What is the difference between going to a bank for a mortgage or to a Mortgage Loan Originator?

A bank is part of a bigger conglomerate. When you visit with the loan officer at a big bank they are the face of the mortgage department. They simply accept your mortgage application and then hand it to their underwriting department, in most cases never to be seen by them again. A Mortgage Loan Originator (fancy name for a loan officer) who works for a mortgage company (such as myself) will not only sit with you and take your application, but will also listen to your needs and evaluate your whole financial picture and advise you about the best loans available for your purpose.

An MLO will also be sure to gather all the paperwork necessary, order appraisals, communicate directly with the underwriter, and keep a close eye on your mortgage through the whole process. Doing this results in a faster turn-around time for your mortgage. Another difference is an MLO will have more mortgage products available to them than a standard bank which is always in your best interest.