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Mortgage brokers)
A mortgage broker acts as an intermediary between individuals or businesses and mortgage funding sources like banks and wholesale lenders.
As the lending industry has become more competitive, the role of mortgage brokers has increased in popularity due to their ability to "shop" lenders for the best rate and terms on behalf of the borrower. Most mortgages are originated by mortgage brokers in evolved mortgage markets like the US, UK, Australia, New Zealand, Spain and Canada.
Most mortgage brokers are regulated but there are US states that still do not require licensing of any type. The level of regulation largely depends on the jurisdiction.
