Role of Broker Dealer Company in a Mortgage Deal
A company or an organization, which does the trading on its own account on behalf of a customer and takes all the responsibilities on its own, on behalf of a customer, is known as Broker Dealer Company.
A company or organization is said to act as a broker, when it does all trading or businesses on behalf of his customer. On the other hand, it is said to be a dealer, when it does all trading on its own account. There are many securities that can be bought from clients or other firms, which are dealers and it can be also sold to clients or other firms, which are dealers or can sell it to the firm only.
There are many Broker Dealers firms, which act as an independent firms and only deals in broker dealer services; but there are some business units of commercial banks (that provide loan, pret immobilier loans, deposits, simulation pret, etc), investment banks and companies, which also deal with it. There are many laws in respective countries governing the policies regarding broker dealer firms. All these rules and regulation are applicable, if one is doing this for a business purpose and if one conducts this on a private basis; then they are seen as trader and are governed under different law.