1) Speed & Customer Service (brokers are on 100% commission so they are motivated to close your deal, bank employees are typically on salary/partial commission) Think Best Buy versus Circuit City only that in this case, Circuity City is cheaper and has more product inventory.
2) More Lending channels to shop for best rates and terms for the consumer
3) Brokers want — need — referrals from you and your Real Estate Agent to generate more business in their long-term business plan. Brokers are skilled at the art of mortgage; have loads of workarounds up their sleeve; and have a history of overcoming obstacles that come up. Brokers have the relationships with various lenders’ underwriters to get things done in a timely manner.
If you didn’t know, now you know…