States Rick Bettencourt, government affairs official for the National Association of Mortgage Professionals

Being a broker is tough, especially because of the misconceptions associated with the term ‘broker.’ In an article, published by Mortgage Professional America, Bettencourt discusses the necessity of brokers, especially in the current financial climate.

In a previous blog, I talked about the difference between Broker v. Banker and the truth is, the debate is still raging on.

Bettencourt states:

“There are a diverse set of investors and guidelines that brokers have access to that bankers do not.” 

And he couldn’t have hit the nail more square on the head.


One unsung benefit of the mortgage broker is their ability to take on complex, imperfect loans that require more work and time than banks, with strict guidelines, are willing to offer. For starters, banks often use a primary lender, so they are tied to that lender’s established set of rules. A broker is free to chose, working with various lenders to find the lender that best fits their clients’ specific needs. Banks do not have that freedom, they are tied to certain requirements, based on the lender they use. The current financial climate, in addition, makes applying for any type of loan more difficult than it used to be. Banks are weary of approving loans, especially after the 2007-2009 recession. At PS Financial Services, a reverse mortgage company in Florida, we offer wholesale prices and make sure you deal directly with your Mortgage Loan Originator during the processing of your loan, from initial consult to closing and funding. Our service is personalized so that you aren’t another file lost in the shuffle. Interested in a reverse mortgage? Let us know at PS Financial Services by calling (888) 845-6630 or sending us an email at We do not pressure those who inquire. We are better than the bank!