A mortgage broker is an intermediary who sources mortgages on behalf of individuals or business firms. With the deepening of the market for mortgages, both mortgage loans and Mortgage broker , the role of mortgage brokers has become significant. In certain countries with developed mortgage markets, mortgage brokers have emerged as the largest distributors of mortgage related products and services. Some of such developed mortgage markets exist in the US, the UK, Australia, Spain and Canada. In the mortgage markets of these countries and many other similar markets in other countries, Mortgage brokers may be required to perform a variety of functions. Some of these functions include:

  • Role of Marketing to attract the attention of the potential customers
  • Analysis and Assessment of the circumstances of the borrowers and such circumstances may cover credit history, credit report and verification of income related documents
  • Finding a mortgage product that conforms to the requirement of the potential customers
  • Pre-approval that is, arranging and applying for a lenders agreement in principle
  • Collecting and arranging all the required documents like salary/ income certificates, bank statements, etc.
  • Assisting the potential customer to complete the mortgage loan application form
  • Explaining the legal nitty-gritty to the potential customers, as also making legal disclosures.
  • Furnishing of all the documents and papers to the lender


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