Mortgage Broker v.s. Mortgage Banker and who's complaining

This article explains the difference between Mortgage Broker's and Mortgage Banker's and who get's the most complaints.  Differentiating between loan originator's, loan application and Mortgage Broker's, according to American Capital Corporation, helps differentiates their duties and who is responsible for any complaints. 

They say that, "According to the Consumer Complaint Database, of the 3,564 complaints filed with mortgage broker, 2,745 actually belonged to banks, not mortgage brokers. A closer examination shows that only 22 out of the 50,457 complaints filed are against mortgage brokers—a 0.0436 percent negative feedback reading against the mortgage broker community."

Mortgage broker's helps borrowers find (originate) the best deal for their lending qualifications.  They broker sometimes more than one lender so you get the best deal out there.

"The depository lender and mortgage banker, however, do, in fact, underwrite, approve, fund and close those transactions in their name, thus those institutions can be categorized as anything but a mortgage broker.”