In one sentence
A firm that originates commercial mortgages, placing them with lenders or investors rather than holding them on balance sheet.
The longer version
Mortgage bankers connect borrowers to capital, structuring deals and shepherding them to close with the right lender. They live in the deal flow and feel the pain of closings that drag.
For a mortgage banker managing many concurrent deals, the ability to see every transaction's status without living in the inbox is the difference between capacity and chaos.
In Prodeal
Mortgage bankers run many concurrent deals in one place with live status per transaction, so they move deals without living in the inbox.
Common questions
- What does a commercial mortgage banker do?
- Arranges commercial real estate financing for borrowers by placing loans with lenders and investors, and often services the loans afterwards.
- How are mortgage bankers paid?
- Usually through placement fees on closed loans and servicing fees on loans they continue to administer.
- What is the difference between a mortgage banker and a lender?
- A lender funds and usually holds the loan. A mortgage banker originates and places it with capital sources, rather than holding it on its own balance sheet.
Keep reading
- The commercial loan closing processThe five stages from term sheet to funded.
- The commercial loan closing checklistWhat goes on the list and who owns each line.
- The due diligence checklist, built to be runChecklists as systems, not documents.
- Loan closing softwareWhere this item is cleared before funding.