What is the role of a mortgage broker?

The role of a mortgage broker primarily involves acting as an intermediary between borrowers and lenders. This means that they are responsible for placing and negotiating loans on behalf of borrowers with various lenders or investors. Mortgage brokers utilize their knowledge of the lending landscape to find suitable loan options for their clients, considering the borrowers' needs and financial circumstances.

In addition to finding the right products, mortgage brokers also typically facilitate the loan application process. They help borrowers complete necessary documentation and may provide guidance throughout the entire process until the loan closes. This role goes beyond simply matching borrowers with lenders; it includes advocating for the borrower's interests during negotiations to secure favorable loan terms.

Other roles mentioned, such as analyzing credit reports or underwriting loans, are typically functions reserved for lenders or financial institutions, not brokers. Mortgage brokers do not underwrite loans or perform credit analysis functions as their primary responsibilities. Therefore, the correct response accurately captures the comprehensive responsibilities of a mortgage broker in the lending process.