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As with any business an owner/operator determines what margin they want to make in their business model. The margin may be a per widget margin or just an overall average profit margin (in the case of loss leaders). It use to be that in the mortgage business you could adjust your margin. Now the margin needs to be fixed (at least for the loan officer).I'm not sure I completely agree with Shane's comment at least how it applies to a bank Anyplace you can get a mortgage (mortgage broker, bank, credit union, mortgage lender, etc.) makes more money offering higher interest rates than offering lower interest rates - mortgage broker included. The higher the interest rate, the more profit "on the back" is being made (vs. "on the front", which is what origination fees are).A higher interest rate doesn't result in more profit for the bank (at least not in my bank). Anything over and above the par pricing is credited directly back to the consumer in a premium pricing credit. I'm not sure if that is the case across the board with mortgage bankers or brokers. It seemed like that was how some lenders were going to fund point banks.You may see a difference in pricing based on the "margin" that is being to the loan officers. So if a lender/broker or loan officer has chosen to pay or be paid a higher margin than his competitor than it is possible that the pricing will vary.I do agree with Shane's comment you should make your primary concern getting a mortgage professional with integrity who can deliver. If you focus on cost you may get what you paid for.
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