How Common Are Mortgage Teams?

Good morning…

I’m wondering how common mortgage teams are in the industry. I know they’re pretty common in real estate, but is it the same for mortgages?
I just started with a company and ended up on a “team” by default, but I’m also considering starting my own. I’m a lead generator and have some Realtors ready to help me grow quickly, so I want to make the most of that.
How does a mortgage team differ from a real estate team? Any insights or experiences would be super helpful!!

Your reply is most welcome…

The use of mortgage teams :face_with_raised_eyebrow: is growing in popularity. Specialized knowledge in different aspects of the loan procedure is becoming more and more necessary as the mortgage industry has become more complex.

The main contact person for borrowers, in charge of helping them navigate the loan application process. Loan processors are in charge of the administrative duties related to loan application processing.

Make sure the property is worth the loan amount by evaluating its value. Organize the loan’s last stages, such as paper signing and money distribution.

These experts can give borrowers a more effective and customized experience by collaborating.

As a result, mortgage teams have become much more popular, particularly in larger mortgage companies and brokerages.