Legal Definitions - mortgage broker

A mortgage broker is a professional who helps people find and secure a mortgage loan. They act as a middleman between the borrower and the lender, and their job is to find the best mortgage deal for their clients.

For example, if you're looking to buy a house, you might go to a mortgage broker to help you find a lender who will give you a loan. The broker will take your financial information and use it to shop around for the best mortgage rates and terms. They'll then present you with a few options and help you choose the one that's right for you.

Mortgage brokers can be especially helpful for people who have less-than-perfect credit or who are self-employed. These borrowers may have a harder time getting approved for a mortgage on their own, but a broker can help them find a lender who is willing to work with them.