Correspondent Lender

Correspondent Lender

A lender who delivers loans to another (usually larger) lender against prior price commitments the larger lender has made to the correspondent.

Mortgage brokers sometimes evolve into correspondent lenders when they accumulate enough capital to acquire the credit lines needed to close loans in their own names. But correspondents continue to depend on commitments from other lenders to protect them against the risk that market prices will decline while they are holding loans. See Mortgage Lender/Retail, Wholesale, and Correspondent Lenders.

References in periodicals archive ?
SkyView Partners is a Wayzata, Minnesota-based correspondent lender dedicated exclusively to supporting the growth of independent and registered investment advisors.
HFF worked exclusively on behalf of the borrower, Hilltop Residential, to arrange the five-year, fixed-rate loan with interest-only payments through a life company correspondent lender.
The company's extensive correspondent lender network encompasses the premiere commercial real estate lending institutions in the Nation.
Bellwether is a commercial real estate (CRE) finance company that acts as a correspondent lender and servicer for life insurance companies, pension funds and CMBS lenders.
The financing was provided by Thrivent Financial for Lutherans, a correspondent lender of the firm's, for a repeat customer of G.S.
"Our CD2UCD solution facilitates UCD compliance when a lender's legacy loan origination system can't perform this task, or where a correspondent lender lacks the closing disclosure data and documents are of poor quality," said Arshad Masood, CEO at Visionet Systems.
By utilizing the power of a collaboration gateway, which is specifically designed to better facilitate the needs of both the correspondent lender and the purchasing institution, sellers can obtain current prices, make a lock request, and take advantage of a systematic and instantaneous transmission of their loan packages.
Bankers may use the program to sell mortgage loans to Sun Trust as a correspondent lender, yet with these added benefits and parameters:
SkyView Partners is a correspondent lender and investment bank focused on the needs of independent financial advisors pursuing M&A and succession planning deals.
The loan has three years of interest-only payments as well as the option for two one-year extensions, and was placed through a life company correspondent lender.
Southern Farm Bureau is a correspondent lender represented by G.S.
(A Correspondent Lender) in South Florida employing over 25 brokers generating over $15M in annual revenues from 1999 through 2007.