What is the primary function of a mortgage loan originator (MLO)?

The primary function of a mortgage loan originator (MLO) is to assist borrowers in obtaining a mortgage loan. This role involves guiding potential borrowers through the process of securing financing for their homes. MLOs engage with clients to understand their financial needs, help them identify suitable mortgage products, and facilitate the application process. They play a crucial intermediary role between borrowers and lenders, often helping to explain loan options, interest rates, and terms.

The other options describe roles that, while important in the broader mortgage industry, do not capture the essential responsibilities of an MLO. Providing financial counseling services, for instance, is typically a separate function that may involve broader financial planning beyond just mortgage loans. Evaluating property values for loans is primarily the responsibility of appraisers, who assess homes to determine their market value as collateral for loans. Managing mortgage loan servicing involves overseeing the day-to-day administration of loans after they have been issued, such as processing payments and managing escrow accounts, which is not the primary focus of an MLO's role.