What's the difference between a mortgage lender and a mortgage broker in Oregon?

@yasmin.eichmann 

In Oregon, a mortgage lender is a financial institution or company that directly provides loans to borrowers for the purpose of purchasing a home. They have the ability to underwrite, approve, and fund loans using their own funds. Mortgage lenders typically offer a variety of loan products and are responsible for servicing the loan after it is closed.

On the other hand, a mortgage broker in Oregon is a middleman between the borrower and multiple lenders. The broker works on behalf of the borrower to shop around for the best loan options and rates from different lenders. Once the borrower selects a loan, the broker helps with the application process and facilitates communication between the borrower and lender. Mortgage brokers do not fund loans themselves, but instead earn a commission or fee from the lender for their services.

In summary, the main difference between a mortgage lender and a mortgage broker in Oregon is that a lender directly funds loans, while a broker acts as an intermediary and connects borrowers with multiple lenders.