Company).

Mortgage — an agreement creating a security interest and other rights in a parcel of real property for the benefit of a lender or other secured party. Mortgage broker — an individual or company who brings borrowers and lenders together for the purpose of loaning money. Mortgage insurance — insurance protecting a lender against loss from a mortgagor's default. Mortgage insurance is issued by the FHA or a private mortgage insurer. If the borrower defaults on the loan, the insurer would pay the lender the lesser of the loss incurred or the insured amount.