Direct answer
What does Borrower mean?
A person or entity that receives or seeks credit and promises repayment under the loan terms.
Exam cue: Separate the borrower from the property owner, guarantor and mortgagor when the facts make them different people.
What does it look like in a question?
New York example
A buyer signs the note and mortgage to finance the purchase.
Common exam trap
What should you not confuse it with?
Borrower identifies the debt relationship, not necessarily every person on title.
Related mortgage brokerage terms
LenderA person or entity that extends credit and is entitled to repayment under the loan agreement.Mortgage bankerA person or entity in the business of making mortgage loans with its own funds or a credit line, subject to applicable licensing or exemption rules.Mortgage brokerA person or entity that solicits, processes, places or negotiates mortgage loans for others rather than acting as the funding lender in the ordinary broker role.Mortgage loan originatorAn individual who, for compensation or expected gain, takes a residential mortgage application or offers or negotiates residential mortgage terms, subject to statutory exceptions.Referral feeCompensation paid for directing business or a customer to another provider.Table fundingA closing arrangement in which a loan is funded by an advance from another person and assigned at or around settlement, as defined by applicable lending rules.
Sources used2 references with section locators
The curriculum citation confirms exam scope. Definition and rule citations support the explanation itself. Links and locators were checked on August 26, 2026.
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