Mortgage brokers act as a link between borrowers and lenders. Mortgage brokers in New Albany help in providing loans and can work for business firms, or as separate entities. On behalf of the borrowers, the mortgage brokers find lenders who give mortgage loans matching their needs.
Mortgage brokers in New Albany take applications from borrowers and fix the terms and rates of lending the money with the lenders. Mortgage brokers are also responsible in collecting different essential documents from the borrowers like their credit reports, asset disclosures, etc. The mortgage brokers in New Albany see to it that all the particulars for the application form are complete, and then hand it over to the lenders. It is up to the lenders then to approve the form and disburse the loan.