Home Mortgage brokers are private entities that exist to match potential home buyers with banks. Mortgage brokers differ from loan officers in that the loan officer usually works for the retail banking side of the institution or bank. Mortgage brokers must be licensed through the states. Rules for this licensing vary by state. Mortgage brokers must also be licensed through the Nationwide Mortgage Licensing System and Registry or NMLS. The purpose for the NMLS is to improve the process of mortgage lending and to increase communication from state to state. They also help to create consistency in regulations and automate
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