Search results
Results from the WOW.Com Content Network
Stearns Lending, LLC was an American wholesale, retail, and correspondent lender. Founded in 1989, it grew until it became the fifth-largest privately held lender in the US in 2013. [2] [3] [4] The company declared bankruptcy in 2019 and was acquired by Guaranteed Rate two years later.
Homebridge Financial Services, Inc. (previously known as Real Estate Mortgage Network), [1] is a privately held, non-bank loan company based in the United States. The company currently comprises approximately 3,000 associates and over 250 retail branches.
A correspondent lender originates, and unlike a mortgage broker, underwrites, and funds mortgage loan using their own funds. [1] The initial loan is usually made in the name of the correspondent lender, and then after closing, the loan is either sold to a larger primary lender or on the secondary mortgage market.
800-290-4726 more ways to reach us. ... They usually work with mortgage brokers and other lending institutions (small bank, credit union, etc.) to offer their loan products at discounted rates ...
United Wholesale Mortgage was founded by Jeff Ishbia in 1986 while working as an attorney. He founded the company as a side business under the name Shore Mortgage. [4] It started off focusing on conventional and FHA loans and the name was later changed from Shore Mortgage to United Wholesale Mortgage. [5] By 2003, the company had 13 employees.
For premium support please call: 800-290-4726 more ways to reach us
The company's mortgage production focuses on the origination of first lien and government-backed or guaranteed mortgage loans through three methods: [1] Correspondent Lending. PennyMac acquires newly originated loans from small banks and independent originators. [15] Consumer Direct Lending.
Continue reading → The post What Is a Correspondent Bank? appeared first on SmartAsset Blog. ... 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 Help. For premium support please call: