A loan officer is the person responsible for guiding borrowers through the loan application process, ensuring all necessary documentation is provided, and overseeing the processing of loan applications until approval.
A Mortgage Broker is an intermediary who brings mortgage borrowers and mortgage lenders together but does not use their own funds to originate mortgages. A mortgage broker helps potential borrowers find a lender with the best terms and rates to meet their financial needs. In return for this service, the mortgage broker receives a commission which can be paid by either the borrower, the lender, or both.
