Some mortgage bankers and portfolio lenders are also wholesale lenders that deal with mortgage brokers, sometimes exclusively.
Most mortgage lenders have both wholesale and retail departments. Mortgage brokers prefer to obtain wholesale rates and then mark up these rates by adding points, presenting the borrowers with quotes that are similar to what borrowers could obtain directly from a retail lender. Mortgage brokers are free to set whatever prices they want, and have different methods for marking up wholesale rates.
Wholesale mortgage lenders generate residential mortgages through a network that includes independent brokers and lenders, offering a wide variety of home financing options: conventional, home equity, government, alternative and jumbo loans. All of these may be purchased from the mortgage professionals, including lenders and brokers, who make up a wholesale mortgage lenders network. The goal of the network is to ensure that both borrowers and lenders benefit from the transaction.
Different types of Wholesale Mortgage Lenders
Wholesale Mortgage Lenders Network
This is a network of professionals working together in order to find...
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