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Glossary of Terms > M > Mortgage Broker

Mortgage Broker

A company that originates mortgage loans, then places the loans with a variety of other lending institutions with whom it has pre-established relationships. A mortgage banker, conversely, is generally assumed to originate and fund its own loans, which are then sold on the secondary market -- usually to Fannie Mae, Freddie Mac, or others. However, firms often loosely apply this term to themselves, whether they are true bankers or simply mortgage brokers or correspondents. An individual can also be a mortgage broker and market himself or herself as such.

M Terms

Mandatory Disclosure

Margin

Maturity

Median Price

Mill Rate

Mixed-Use

Modification

Mortgage

Mortgage Broker

Mortgage Insurance

Mortgage Life / Disability Insurance

Mortgagee

Mortgagor

Multi-family Home

Multiple Listing Service


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