A mortgage broker acts as an intermediary between borrowers and lenders, helping borrowers find the best loan options based on their financial profile. Unlike mortgage bankers, brokers don’t fund loans; instead, they connect borrowers with lenders, saving time and effort in navigating mortgage options. Brokers earn income through commissions or origination fees, based on loan size, and may work independently or within a firm. While not required for obtaining a loan, mortgage brokers can be beneficial, as some lenders work exclusively through brokers.