What is a Correspondent Lender? – Mortgage News Daily – A correspondent lender is a type of lending institution that has a secured tradeline from an investor- usually a direct lender – in which they funds loan from. Correspondent lenders differ from.
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In other words, a small correspondent mortgage lender may resell Pennymac products and/or Impac Mortgage products under their own name to borrowers. To provide some actual examples, Freedom Mortgage Corp. is a big FHA loan and VA loan correspondent, and Caliber Home Loans is a large correspondent of all home loan types. direct Mortgage Lenders
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What Is a Correspondent Lender? – Mortgage Professor – But the lender is the one who must approve the deal and disburse the money to the borrower. mortgage brokers usually are not authorized to provide final loan approval, nor do they disburse money. But lets muddy this up is a little.