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I don't know whether Shakira required the services of any Mortgage Brokers when she and some partners recently bought an island. Us mere mortals tend to have a somewhat more limited cashflow and any real estate dealings we undertake tend to involve a mortgage or loan of some sort. A Mortgage Broker is someone who acts as an intermediary and sources mortgages on behalf of either individuals or businesses. Wikipedia offers lots of details about how brokers operate and what the key differences are between a broker and a loan officer.
Basically the majority of mortgages go through brokerage now because of an increasingly competitive marketplace. If you walk in the door of a bank, they will probably not offer you the best terms on the market.
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