WHY SO EZ MORTGAGE

In California mortgage brokers are regulated to ensure compliance with banking and or finance laws in the jurisdiction of the consumer. This is not the case in all states, so if you are shopping for a mortgage, it’s recommended you stay with a lender in the state of California. Interestingly, California is the only state that requires mortgage Brokers to have a fiduciary duty to the borrower. Direct lenders do not have this obligation to the client in addition to brokers outside California.

 

Traditionally, banks and other lending institutions have sold their own products, however, as markets for mortgages have become more competitive, the role of the mortgage broker has become more popular. Today in most developed mortgage markets (especially in Canada, the U.S., the UK, Australia, New Zealand and Spain), mortgage brokers are the largest sellers of mortgage products for lenders.

 

Mortgage brokers exist to find a bank or a wholesale lender that an individual seeks with a specific loan. Mortgage brokers in Canada are paid by the lender and do not charge fees for good credit applications. So EZ Mortgage has adopted this same policy in the United States.