what is a mortgage broker 
a mortgage broker is an intermediary who brings mortgage borrowers and mortgage lenders together but who does not use their own funds to originate mortgages a mortgage broker helps borrowers connect with lenders and seeks out the best lender for the borrower s financial situation and interest rate needs they do the legwork so a borrower doesn t have to the mortgage broker also gathers paperwork from the borrower and passes it along to a mortgage lender for underwriting and approval purposes the broker earns a commission from either the borrower the lender or both at closing a mortgage broker should not be confused with a mortgage banker which closes and funds a mortgage with its own funds 