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Mortgages Part 1: Understanding the Lending Industry

Banks historically have been the most common source for loans. There are local and national banks, each with their own advantages and challenges. However, the lending industry has changed dramatically in the past couple of decades. Now even credit unions offer mortgages. Most commonly, there are many mortgage brokerages (such as K5 Mortgage, to name one example), and the Internet has become a prominent source to find these companies and for virtual mortgage brokers to work through. Moreover, these companies could be doing better business than banks in the lending sector, since they may be only dealing with lending. In addition, they might also have a loyal customer base, thanks to mortgage broker CRM software systems. In the future, these organizations could be leading in this business sector if they take advantage of such tailored CRM software.

A mortgage broker can broker loan products from a wide array of sources. In fact, they usually have access to anything o