Mortgage Broker

As a Mortgage Broker (also known as a Mortgage Consultant or a Mortgage Originator), you’re basically a liaison between the borrower and the lender. But your company itself does not give out the loan. Instead, as the Mortgage Broker, you offer the loans available from other lenders.

You serve both the client and the lender as a Mortgage Broker. For the client, you shop for the best mortgage offer. And for the lender, you try to find the best client. In other words, you’re a Matchmaker for the mortgage world, working with hundreds of potential lenders and applicants, and trying to find the best situation for everyone.

Because you are the middle ground, you attempt to appease both parties. You accept applications from borrowers, and you confirm all rates and terms with lenders. You also put together a packet of all necessary documents—including credit reports, assets, and appraisals—for the Mortgage Underwriter, who determines the disbursement.

Many people who have special circumstances—like bad credit—go to Mortgage Brokers rather than straight to the lender. If that’s the case, you also provide credit counseling services in order to correct those issues. You are also there to simply help out the applicant with all of their general questions, and in dealing with the mountains of paperwork.