Which professional is compensated for arranging a loan but does not service it?

The mortgage broker is the professional who is compensated for arranging a loan but does not service it. Their primary role is to connect borrowers with lenders by evaluating the borrower's needs and finding the most suitable loan options available through various lenders. Once the broker successfully facilitates the loan arrangement, their responsibility typically ends, as they do not engage in the management or servicing of the mortgage after it has been originated. This is an important distinction because servicing a loan includes collecting payments, managing escrow accounts, and handling customer inquiries, which are functions performed by mortgage servicers or lenders.

In contrast, a real estate agent focuses on helping clients buy or sell property and does not typically arrange loans. The loan officer, while they assist in the loan application process, often works directly for a lender, meaning they are involved in the servicing aspect of the loan. An underwriter evaluates loan applications and assesses the risk for the lender, but also does not service loans. Thus, the role of the mortgage broker is specifically about arranging loans without ongoing servicing duties.