Which entity is typically NOT involved in a mortgage transaction?

In a typical mortgage transaction, the key participants include the borrower, the lender, and the mortgage company, as each plays a crucial role in the process of obtaining and servicing the mortgage. The borrower seeks funds to purchase property, the lender provides the mortgage loan, and the mortgage company may handle the administration of the loan.

The appraiser, while important in determining the value of the property being mortgaged, is not a direct participant in the transaction itself. The appraiser performs an independent evaluation to ensure that the property's value aligns with the loan amount, but they do not engage in the contractual obligations or financial exchange that characterize the core elements of a mortgage transaction. Therefore, it is accurate to state that the appraiser is typically not directly involved in the mortgage process when considering the main entities that execute the loan agreement.