Mortgage Loan Originator (MLO)

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Types of mortgages

Section 50 of 72

It is important to distinguish between the lender (the entity with the money) and the originator (the professional arranging the deal). A Mortgage Loan Originator (MLO) is the licensed individual who meets with the borrower, takes the application, and negotiates the terms of the loan. An MLO can work for a specific lender (like a bank officer) or work as a mortgage broker who acts as a middleman, connecting the borrower with various potential lenders to find the best rate. The MLO does not lend their own money; they earn a fee for successfully arranging the financing.