Warehouse Line of Credit
A firm that lends to temporary lenders against the collateral of closed mortgage loans prior to the sale of the loans in the secondary market. A warehouse line of credit is essential to the successful operation of a mortgage banking company. As credit lines become increasingly difficult for mortgage brokers and mortgage bankers to obtain, many are turning to companies like Southwest Funding where they can enjoy immediate access to the companies warehouse lines of credit to fund mortgage loans. Southwest Funding maintains several warehouse lines of credit with various financial intuitions and has the ability to fund millions of dollars in new loans daily
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