The bank or finance company that directly awards a home loan to a borrower based on their qualification.
A mortgage lender (or "lender" for short) is either a bank or finance company that directly awards a home loan to a borrower, based on the borrower's qualification for said loan.
The majority of lenders must underwrite loans to confirm qualification according to guidelines set by Fannie Mae, Freddie Mac, the Federal Housing Administration, the Veterans Association, or specific investors (depending on the loan product).