Mortgage Broker

See: Mortgage.

A simple mortgage contract has two participants. There’s the person borrowing money to buy a house...and there’s the lender providing cash through the mortgage.

But like that trip to Paris you and your spouse never talk about, but each of you thinks about all the time, sometimes a third party gets involved. That third wheel here is called a mortgage broker.

A mortgage broker’s job really isn’t that titillating. Mostly they make introductions and fill out paperwork. They operate as intermediaries. The brokers don’t make the loans...they just hook up the parties involved. Think of them as the Match.com of the mortgage business.