Do Mortgage Brokers Receive A Higher Commission For Delivering Adjustable Rate Mortgages To The Banks?

December 12th, 2009

I’m a CPA but am not entirely sure how the mortgage brokering process works. I’ve received some sketchy information in the past indicating to me that the higher the rate is, the more of a commission the bank pays to the broker for bringing them the loan. I believe the exact terms are when the rate is above the bank “par rate”. Now I’ve heard that if the broker brings the bank an adjustable rate loan that the broker receives and even higher Commission. Is this true?
Thanks,
Craig R. Fechter, CPA

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4 Responses to “Do Mortgage Brokers Receive A Higher Commission For Delivering Adjustable Rate Mortgages To The Banks?”

Mortgage Expert Says:
December 12th, 2009 at 2:26 am
Unless you have a fixed-rate mortgage, the current mortgage interest rates are very important to deciding how much you should pay every month

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