Question regarding a broker vs. direct app

[babyarho2010]

Do mortgage brokers "shotgun" your application similar to applying for an auto loan? I'm getting ready to obtain a preapproval and I don't want my reports littered with inquires. Is applying directly with a preferred lender a better bet? What are the true advantages of using a mortgage broker? Thanks!

[Brian B The Loan Professor]

No they pull once and then share with whomever they send the loan to - Brokers and Bankers are more alike these days

Brokers have multiple resources for loans but these days most banks do as well. Bankers have more direct access to the underwriter which can be advantageous if there are any issues. Not all banks keep the loans and use correspondence relationships to basically broker to other banks - however they may still underwrite it in house.