mortgage broker

mortgage broker definition - business

mortgage broker

A third party that acts as an intermediary in bringing together borrowers and lenders interested in transacting mortgage loans. Mortgage brokers typically work with multiple lenders, who pay a fee for loans generated by the broker.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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