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retail lender and correspondent lender
what is a difference?

A retail lender are licensed lenders. Correspondent lenders are retail lenders. Mortgage lenders are retail lenders. Wholesale lenders are not licensed and need relationships with licensed retail lenders in order to get loans so they can package them up and resell them to Fannie Mae and/or Freddie Mac. Wholesale lenders can be retail lenders too if they develop a retail division but needs to be licensed.


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