Michael Petruccelli says; Broker has several meanings
in different situations. Most Realtors are "agents" who work under a
"broker." Some agents are brokers as well, either working form themselves
or under another broker. In the mortgage industry, broker usually refers to a
company or individual that does not lend the money for the loans themselves,
but broker loans to larger lenders or investors. (See the Home Loan Library
that discusses the different types of lenders). As a normal definition, a
broker is anyone who acts as an agent, bringing two parties together for any
type of transaction and earns a fee for doing so.
