Mortgage Broker

Definition: A mortgage broker acts as an intermediary helping arrange a mortgage loan between a borrower and a lender.

Example

A broker helps a borrower compare available lender programs and assemble an application.

Keep the distinction clear

A broker is not necessarily the funding lender or the ongoing servicer. Mortgage activities have their own licensing and regulatory requirements.

Related terms

Mortgage Lender · Loan Servicing · Mortgage

Keep studying

Mortgages: Borrower, Lender, Ownership, and Key Clauses

References: CFPB: lenders and mortgage brokers

Pronunciation (US): MOR-gij BROH-ker (capitals show stress)

Pronunciation reference: Merriam-Webster