originators find borrowers, paper (document) the loan, then hold it for days/weeks before delivering the loan to either another servicer or directly to the mortgage-backed security issuers (GSEs). The borrower interacts with their servicer, but the actual owner of standard mtges usually = MBS mkt.
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*not financial advice, of course.
(in the canadian context all of this is vertically integrated so i dont have a feel for it)
Employment less of a limit on capacity than it used to be but still a valid question.