I have worked for both. Regulatory agency will be different (or at least a different division). No Safety and Soundness (usually). Mortgage Companies tend to be more cyclical, based on the mortgage industry, whereas, banks tend to be more stable due to greater diversity of income sources. Mortgage Companies tend to be more entrepreneurial, and driven, while banks are a little more laid back (production wise). Mortgage Companies tend to be less formal. Bankers tend to look down on mortgage folks. Bank’s have greater opportunity for expanding your experience due to the greater variety of products offered by comparison to mortgage companies, but mortgage companies usually offer a greater variety of loan products.
Please, note I’m only speaking to tendencies I have experienced, there are always exceptions on both sides of the fence.
I enjoyed the time working for a mortgage company and don’t regret it, but I like the greater variety of working for a bank.
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Where I go there I am.