Posted on: 05th Jul, 2010 03:12 am
Hi,
I heard from many of my friends about wholesale lender. Can any one guide me about the concept of wholesale lender?
I heard from many of my friends about wholesale lender. Can any one guide me about the concept of wholesale lender?
As word Wholesale means it is invloved with many types of loans. In large mortgage institutes there si concept of retail and wholesale lending divisions.
wholesale lender deals with different types of loans as mentioned below-
1) Subprime
2) Reverse mortgage
3) Alt-A
4) Manufactured homes
5) Commercial
6) Investment properties
7) Multi unit
8) Raw land.
wholesale lender deals with different types of loans as mentioned below-
1) Subprime
2) Reverse mortgage
3) Alt-A
4) Manufactured homes
5) Commercial
6) Investment properties
7) Multi unit
8) Raw land.
Generally the advantage of wholesale lenders are they do not reires brrower to pay fees that may be able to pay in case of others like retail lender, correspondent lender or a mortgage broker.
And other advantage is the interest rates are lower than others.
And other advantage is the interest rates are lower than others.