The broker makes available to the client and the documentation necessary to process the loan, and the lender pays them for the provision of this service instead of paying one of their own loan officers. As a broker may have more than one loan officer issuing loans, he may sometimes get additional YSPs to bring back a volume of loans. This is usually based on funding over a million credits per month. The borrower can benefit greatly, especially since April 1, 2011. New laws have been implemented by the federal government, which states that all brokers have set prices with the lenders they do business with. Brokers can get a lower interest rate than if you go directly to the lender and they can pay for all your closing costs, unlike the lender who would make you pay all third-party fees yourself. They end up having a lower price and lower fees…