What's a Mortgage Broker

A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses.

Traditionally, banks and other lending institutions have sold their own products.  As markets for mortgages have become more competitive, the role of the mortgage broker has become more popular.  In many developed markets today, mortgage brokers are the largest sellers of mortgage products for lenders.

Mortgage brokers exist to find a bank or a direct lender that will be willing to make specific loan an individual is seeking.