What term describes the act of buying or selling mortgages as a principal or agent?

The term that best describes the act of buying or selling mortgages as a principal or agent is "Mortgage Broker." A mortgage broker acts as an intermediary between borrowers and lenders, facilitating the process of securing financing for real estate transactions. This role involves analyzing the needs of borrowers, matching them with suitable lenders, and often negotiating terms to help both parties achieve their goals.

Mortgage brokers have a deep understanding of the financing landscape and can provide valuable insights and options to clients. They are licensed professionals who must adhere to regulations governing the mortgage industry, ensuring that transactions are conducted ethically and transparently.

The other terms listed do not accurately reflect this act. A mortgage application refers to the documentation process that potential borrowers complete when seeking a loan, mortgage administration pertains to managing and servicing existing mortgage loans, and property ownership describes the legal rights associated with owning real estate, none of which directly relate to the act of buying or selling mortgages.