Broker
A broker acts as a go-between for two parties. In the case of a finance broker, he will act for the loan lender and the party who wants the loan, even though he does not himself act as a signatory or is not otherwise privy to the deal. For the broker, his payment for this service will be either a percentage of the finance deal or a fixed rate per succesful application for finance. The obvious point of a broker is to facilitate deals between the two parties, but it can also be true that the broker has an in-depth knowledge of a particular market, and can find customers that the company offering the finance product can not
|