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I am asked this question many times. In short, a mortgage broker partners with many banks. Legacy Mortgage, Inc. has partnerships with more than 26 banks located in Hawaii and on the mainland. All banks have different rates, different products, different underwriting standards and different specializations or "niches." This is the reason why one bank may deny your loan, while another bank will quickly approve it. Or, one bank's closing charges are higher, while others are lower. The role of the mortgage broker is to get the borrower the best loan, at the best price, and in the least amount of time.

Overall, loan officers at banks are loyal to their bank first, then to the borrower. The best interest of the borrower is always after the best interest of the bank. Mortgage brokers are only loyal to their borrowers. Without borrowers, mortgage brokers are not paid and cannot earn a living.