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so when you first get your license you have the option to either you can go your Retail Bank option or you can go wholesale option so Retail Bank option basically is if you are working for a retail bank you work for a bank like Chase Wells Fargo you may work for a direct lender and basically what a direct lender is is that you are working for that bank so every loan that you do is going to go through that specific bank if you go to the residential route every every loan that you do is going to go through that specific bank that you're hired with the other option is going the Wholesale route which would be a broker so being a broker basically you are able to shop multiple different lenders to give your client the best rate the black the best product the best option for them I've never been a retail loan officer the only thing I could say is I do know loan officers that work for the retail side that has switched over to the broker side but the retail side is um and the thing that I heard about that is that the rates are a little bit higher because they are just a direct lender versus a broker you are the broker so you are able to shop around different options so being a broker is kind of the same as like if you go to a car if you want to get car insurance they will basically shop different car insurance to get you the best option for you and that's the same thing that a broker will do in the wholesale field I can't really speak on the retail side but I can't speak on the wholesale side because that is the site that I've always been on since I've been licensed I work for a broker we have the ability to shop multiple different banks we work with multiple different banks this gives us an option to shop around to see what is the best option for our borrowers so if you guys have any questions about working for a broker then let me know because that is something that I can help you out with the difference between the two that I know or that I've heard of is that on the retail side there is definitely a little bit more structure sure as far as like training you have more access to resources and I'm not saying you don't have the same you don't have access to the same thing on the broker side but the difference between the two is that if you work for a retail bank like for example if you work for they have their set standards a set guidelines the set training on how they want you to do the loans versus on the broker side if you are going to be a broker you are going to be doing 100 of all of that by yourself so all of your training all of your coaching all of your stuff like that is something that you are going to be responsible for