Find a Business Near: Zion, IL

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    Mortgage Bankers & Correspondents in Zion


    Below is a list of businesses listed within our directory. If you do not see your business within the list below, you can submit it for addition to this list. Adding your business will feature your listing above Standard listings.

       


    Standard Listings

    Business Listing   Choice One Mortgage - Zion, IL - Phone: (847) 746-8000


    Business Listing   CIB Bank - Zion - Zion, IL - Phone: (847) 731-5130


    Business Listing   Washington Mutual - Bank Locations- Zion - Zion, IL - Phone: (847) 872-2769


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    Helpful Definition for: Mortgage Bankers & Correspondents

    Mortgage Bankers and Correspondents, in Zion, are banking agents or intermediaries, who mediate between their clients and the banks for which they work. Their job is to ease the process of applying for and availing loan or a lien amount from a bank  for their clients, to help them ( the clients) satisfy a debt or serve an emergency, by mortgaging a personal property of value with the bank, against an interest rate. The mortgage helps in securing loan from the bank for an agreed period, and can be reclaimed upon payment or performance according to stipulated terms. A mortgage banker or a correspondent in Zion communicates with the client and the bank over all the essentials for a loan; they gather important data and financial records of their client for the bank, to ensure that the former (the client) is an eligible candidate for the loan. Terms and conditions like loan period and rate of interest ,are stated on bank documents as per the individual's financial history. In this respect, a mortgage banker is held totally accountable for his clients to the bank. 




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