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Mortgage Broker |
Also found in: Wikipedia | 0.07 sec. |
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Mortgage Broker The matchmaker between a homebuyer and a lender with the goal of them originating a mortgage loan. The broker draws from a pool of various lenders to find the right match. Notes: Do not confuse a mortgage broker with a mortgage banker. A mortgage broker brings together both the parties of a loan but does not actually originate or service the loan, while a mortgage banker originates and services the loan. See also: Conventional Mortgage, Fannie Mae, Ginnie Mae, Loan, Mortgage, Mortgage Banker, Origination Mortgage broker A company or individual that places mortgage loans with lenders, but does not originate or service loans like a mortgage banker. |
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