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.
Mortgage brokers have the ability to make several points on the back-end of a loan, earning thousands sometimes without the borrowerâs knowledge. They can also collect money on the front-end of a loan via out-of-pocket closing costs like loan origination fees and processing costs.