What Is Wholesale Lender?
Wholesale Lender: A lender that offers loans through mortgage brokers rather than directly to consumers.
A wholesale lender makes loans that are originated by mortgage brokers. The lender underwrites and funds the loan; the broker handles the application and is your point of contact.
Why it matters to you
Wholesale pricing can be lower than retail pricing, because the lender doesn't pay for branches and retail loan officers. Brokers can compare many wholesale lenders at once.
Good to know
Your Loan Estimate and closing documents come from the lender that funds the loan, and your loan may later be serviced by another company. See mortgage servicer.