How do mortgage brokers get paid?
Mortgage brokers are typically paid a loan-specific fee by either the borrower or the lender, under federal loan-originator compensation rules. Turn Times, a licensed mortgage broker (NMLS #2099552), may charge an origination fee. All fees are disclosed on your Loan Estimate. Turn Times does not lend; the selected wholesale lender underwrites, approves, locks, and funds the loan.
Key facts
- Ask who pays the broker, and how, before you apply.
- Broker compensation appears on the Loan Estimate and later the Closing Disclosure.
- Federal rules (Regulation Z, 12 CFR 1026.36) generally prohibit compensation based on a loan's terms, prohibit a broker from being paid by both the borrower and the lender on the same loan, and include anti-steering protections.
- A no-obligation consultation is not the same thing as a loan without fees. Read the Loan Estimate.
- Turn Times is licensed in California and Colorado: NMLS #2099552.
Borrower-paid vs. lender-paid compensation
Borrower-paid compensation
You pay the broker's fee as an origination charge, at closing or financed into the loan where allowed. It is listed on the Loan Estimate so you can compare offers.
Lender-paid compensation
The funding lender pays the broker. The cost is typically reflected in the loan's pricing rather than as a separate charge you pay the broker. Read the full Loan Estimate; APR and fees still matter.
On any one loan, the broker is paid either by you or by the lender, never both.
Red flags
- Claims that a mortgage costs nothing to arrange.
- Guarantees that a broker path is always cheaper.
- Promises that compensation "doesn't affect you" without showing the Loan Estimate.
How Turn Times handles fees
Turn Times may charge an origination fee. All fees, including origination, lender charges, any points, and third-party costs, are disclosed on your Loan Estimate.
We are a licensed mortgage broker, not a lender. We shop participating wholesale lenders for California and Colorado borrowers. Before you move forward, your licensed loan officer should walk you through:
- How origination appears on the Loan Estimate.
- Other lender charges from the chosen lender.
- Third-party costs (appraisal, title, and similar) that remain estimates until finalized.
- The difference between interest rate and APR when comparing offers.
Why fee transparency matters
Many shoppers ask whether brokers cost extra. The honest answer: brokers are paid for their work, and you should see that compensation clearly. Turn Times discloses fees rather than advertising "free" loans.
Compare like for like:
- The same loan amount, product type, lock period, and points approach where possible.
- APR, cash to close, and monthly principal and interest, not a single headline rate.
- Licensing on NMLS Consumer Access.
Common closing-cost categories
Categories only; your Loan Estimate itemizes the actual costs for your file:
- Origination / broker compensation
- Appraisal and credit report
- Title and escrow / settlement
- Prepaid interest, taxes, and insurance escrows (situation-dependent)
- Recording and transfer-related charges (state and county rules vary)
This article is not a cost quote.
California and Colorado
- Verify Just Homes Inc. dba Turn Times on NMLS Consumer Access.
- Ask any loan officer for their individual NMLS ID (for example, Steven Reach, NMLS #389114).
Next step
Questions about fees on a California or Colorado scenario? Schedule a Loan Options Consultation or call 844-999-8876. We'll explain how origination would appear on a Loan Estimate for your situation, without promising approval or pricing.
Sources
- CFPB: How does a mortgage loan officer or broker get paid?
- CFPB: Loan Estimate and Closing Disclosure guides (TILA-RESPA Integrated Disclosure).
- Federal Register: Loan Originator Compensation Requirements under Regulation Z.
- NMLS Consumer Access.
Internal links: /faq, /legal, /about, /loan-options, /schedule, /insights/mortgage-broker-vs-lender, /insights/what-is-a-wholesale-mortgage-broker
Just Homes Inc. dba Turn Times · NMLS #2099552 · CA DFPI Financing Law License #60DBO-181268 · CO Mortgage Company Registration #2099552 · Equal Housing Opportunity Loans made or arranged pursuant to a California Financing Law license. Verify licenses at NMLS Consumer Access (nmlsconsumeraccess.org).