Who actually handles a US mortgage
These are the categories that legitimately exist in US mortgage lending — not a ranked list of specific companies.
- We describe the categories that legitimately exist in US mortgage lending, not vet individual companies.
- Each category reflects how compensation, licensing, and lender access genuinely differ under US rules.
- We do not receive payment to describe or omit any category on this page.
- We do not claim to have personally verified any individual broker, loan officer, or lender — that step is yours to do using the check listed for each category.
Independent mortgage broker
A licensed intermediary who works with a panel of wholesale lenders and shops your loan across them for a fee or lender-paid commission.
Check yourself: Confirm their individual NMLS number at nmlsconsumeraccess.org and ask how many lenders they actually place loans with regularly.
Bank or credit union loan officer
A licensed originator employed by a single bank or credit union, offering only that institution's own loan products.
Check yourself: Ask whether their institution offers any relationship-based pricing and confirm their NMLS number covers your state.
Online direct lender
A lender that originates and often funds loans entirely through a digital application, without a broker or in-branch loan officer.
Check yourself: Confirm the lender's own NMLS company number and ask what happens if your file needs manual review outside the automated process.
Correspondent or wholesale-focused mortgage banker
A lender that funds loans directly using its own capital, often working through brokers, then typically sells the loan to a larger investor after closing.
Check yourself: Ask who will service your loan after closing, since it's often sold to a different company than the one that originated it.
Questions worth asking
- What's your NMLS number, and is it active and in good standing in my state?
- How are you compensated on this specific loan — by me, by the lender, or both?
- How many lenders do you actually work with, and how did you choose the one you're recommending?
- What's your realistic timeline from application to closing for a loan like mine?
- What happens to fees I've already paid if this loan doesn't close?
- Who do I contact directly if something goes wrong mid-process?
- Can you show me this loan's terms reflected on a written loan estimate, not just described verbally?
Tell us what you're trying to sort out
Nothing here commits you to anything, and we don't place loans ourselves.