A tendon or sinew is a tough band of fibrous connective tissue that usually connects muscle to bone and is capable of withstanding tension. Tendons are similar to ligaments; both are made of collagen. Ligaments join one bone to another bone, while tendons connect muscle to bone.
In saying that, a mortgage broker is generally paid in two different ways. Firstly, the largest portion of their payment is in an upfront commission when you sign on to your loan. The second portion is a recurring commission that is calculated based on the remaining loan amount each year and is paid on a monthly basis.
What is a 'Mortgage Broker'. A mortgage broker gathers paperwork from a borrower and passes that paperwork along to a mortgage lender for underwriting and approval. The mortgage funds are lent in the name of the mortgage lender, and the mortgage broker collects an origination fee from the lender as compensation for services. A mortgage broker is not to be confused with a mortgage banker, which closes and funds a mortgage with its own funds. Next Up.