Direct Lending
Direct lending refers to mortgage loans originated and credit decisioned directly by the lender without the use of a broker. This enables the direct lender greater discretion and better pricing. Southwest Funding and its mortgage retail branch offices can operate in a direct lending capacity but still have the choice act as a mortgage broker, the best of both worlds. A direct lender employs underwriters who will evaluate the collateral and financial condition of the applicant to make a credit decision. In additon, the direct lender will use its own funds or funds secured by warehouse lines of credit to complete the loan transaction thereby creating a new mortgage.
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