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Mortgage Loan Originator (MLO)

Mortgage Loan Originator (MLO)

What is a Mortgage Loan Originator (MLO)?

A Mortgage Loan Originator (MLO) is a licensed person who can generate loans for a financial institution. Each state has different licensing requirements established by the NMLS. The MLO will usually get paid about 1% of the loan value in commissions for having originated the loan. After the loan gets originated, Loan Officers and Processors work to get the loan underwritten and funded.

Mortgage Loan Originators (MLOs) are similar to Mortgage Brokers. The primary difference is that a MLO works for a bank or mortgage-related financial institution. Mortgage Brokers are typically independent from the financial institution.

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