This higher lending standard that is above and beyond the minimum agency guidelines is called The Reason Why Using Mortgage Brokers Will Give You Access To More Mortgage Loan Options Lenders have lender overlays to lower their risk tolerance on government and conventional loans.
Correspondent lenders will underwrite the loans under the guidelines of the investor the correspondent lender plans on selling the loan after it funds.
We are a national mortgage company licensed in multiple states with no lender overlays.
In this blog, we will discuss and cover the difference between correspondent lending versus mortgage brokers.
Mortgage Brokers Are Limited on How Much Their Compensation Can Be: Not Mortgage Bankers and Correspondent Lenders The maximum a mortgage broker can charge a borrower by law is 2.
These wholesale lending partners are the investors that will purchase the mortgages they fund using their warehouse line of credit.