General
How is DMF compensated?
Context
Borrowers reasonably want to know how a broker gets paid before working with one.
The short answer
Mortgage brokers are paid either by the lender or by the borrower on a given loan, never both. On most DMF loans the lender pays our compensation, set in advance by our agreement with the wholesale lender and independent of your interest rate or loan terms.
Things to keep in mind
DMF discloses compensation in writing before any loan closes, per federal law.
Next step
Ask DMF for your compensation disclosure details when you apply.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners. We submit your purchase or refinance file to multiple wholesale lenders and compare what each one offers, so your pricing is not limited to one lender's rate sheet.
Davis Monroe Financial, LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.