Originator

Originators are the individuals or firms who post offerings soliciting opportunities on Yieldstreet or other crowdfunding platforms. Originators can determine the terms of the loan with the borrower. Once the originator and borrower have approved the terms, the originator will return it to Yieldstreet which will fund all or part of the loan. 

What role does the originator have? 

When a borrower requires a loan from any type of financial institution, an originator will act as the liaison between the lender and the borrower. The originator takes the borrower through all of the procedures to complete the loan application.  This involves collecting all the necessary documents, and verifying whether the provided information is correct. The originator will assist with answering questions on the loan application for the borrower. 

Mortgage Loan Originators (MLO)

A mortgage loan originator, also known as the mortgage officer, assists borrowers to get the right mortgage for real estate transactions. The mortgage officer will determine the amount of the loan and the interest rate thereof.  The mortgage officer will conclude proceedings on the loan application by verifying the information and documents provided by the borrower. The MLO can work alongside an associated financial institution, or with several lenders.  When an MLO works with several lenders, borrowers may have access to a wider set of lending opportunities and can decide on a loan that best suits their financial situation. 

What are the types of mortgage originators?

  • Mortgage Bankers 
Individuals associated with a financial institution can carry out mortgages making use of their personal funds. 
  • Mortgage Loan Originator 
As previously discussed, the MLO acts as a middleman, assisting with the collection and verifying of the borrower’s information. The MLO connects the borrower with the lender and provides additional ‘education’ about the loan. Throughout the process of the loan application, the originator will guide and assist the borrower. 
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