Portfolio lenders do not offer your home loan to some other bank, credit union or other lender. Many homebuyers might not be mindful, however the bank, credit union or loan provider they initially decide for their home loan frequently turns around and offers that loan to some other company in the secondary market.
The market that is secondary towards the market where mortgage loans are purchased and offered between loan providers banks, credit unions along with other Wall Street investors. Typically, theres an intermediary between loan providers and investors, often Fannie Mae or Freddie Mac. [Read more...]