Posted To: The Garrett Watts Report

A portmanteau means a blend of two or more words and their meanings into one new word. An example is the word brunch meaning breakfast +lunch. Another is smog meaning a combination of smoke and fog. Some would consider a portmanteau a type of word morphing and we agree. Mortgage lending has had its share of portmanteaus. Over the last several years mortgage brokers who were transitioning to mortgage banking were sometimes phrased as Brankers. Branker is a morph of a mortgage banker and mortgage broker. A Branker acts and operates as a mortgage broker and doesn’t perform many functions of a mortgage banker – underwriting, doc prep and secondary market --, but does fund and sell loans in their name as a mortgage bankers. One key similarity with Bankers and Brankers is loan repurchase...(read more)