What role does a Mortgage Broker primarily serve?

A mortgage broker primarily serves to arrange funding for potential borrowers. Their role involves acting as an intermediary between the borrower and various lenders, helping clients find the best mortgage options that suit their financial needs. This process includes assessing a borrower's financial situation, providing loan options, and guiding them through the application process. By leveraging their relationships with different lenders, mortgage brokers can offer a broader range of financing options compared to a borrower going directly to a single lender.

In contrast, other roles mentioned do not encapsulate the primary function of a mortgage broker. Funding mortgages directly refers to the role of a lender rather than a broker, who does not typically provide funds themselves. Representing lenders is more aligned with the responsibilities of a loan officer, rather than a mortgage broker whose focus is on the borrower. Servicing existing loans is a function related to loan servicers, who manage loan accounts after they have been originated, rather than brokers who focus on securing new loans.