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Mortgage glossary
Broker (Mortgage Broker)
A mortgage broker helps connect a borrower with one or more lenders and assists with the loan process. The broker does not usually provide the loan funds. Compensation may be paid by the lender, the borrower, or as otherwise disclosed and permitted.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.