Mortgage broker
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Definition
A mortgage broker is a person or firm that takes a mortgage application and connects the borrower with a lender. The broker does not always make or hold the loan.
In plain English
A lender makes or funds the loan. A broker shops or places the application with a lender. Some firms do both, but the roles are different. Many brokers and their individuals appear in NMLS Consumer Access. This page is the role, not a ranking of brokers.
Technical definition
CSBS and NMLS official materials describe the licensing system that covers mortgage brokers and lenders. That system is the PRIMARY identity for the role on this page.
Why it matters
Borrowers asked whether they are working with a broker or a lender need the placement-versus-funding split.
Commonly confused with
Related terms
Sources reviewed
Nationwide Multistate Licensing System (NMLS)
Source reviewedSeptember 4, 2026
Important note
A mortgage broker is not automatically the lender named on the note.
Cite as
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