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Mortgage brokers are paid upfront and trail commission based on mortgage broker commission rates. Will you ever have to pay when getting a home loan? The cut is pretty much an administration cost and service fee for the services they provide such as distributing commissions, software, systems.
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A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. As markets for mortgages have become more competitive, however.
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