A Wholesale Lender acquires, underwrites, orders all 3rd party reports and then sells the loan to one or more Mortgage Pools. The end result is your loan becomes part of a Collateral Mortgage Backed Security (CMBS) purchased by institutions, Pension Plans, individuals or whomever has the need for a safe, long term, interest bearing investment.

A Wholesale Lender has three areas which are usually to the Borrowers Advantage
1) The wholesaler has many buyers for their paper so the borrower actually has competition for their loan,

2) Rates to Wholesale Lenders are lower than the retail or consumer side because the loan they sell is complete with all required items and they have little expense outlay for overhead so their cost of acquisition is less,

3) A Wholesale Lender underwrites to the requirements of the particular Pool the loan is to be sold to, therefore personalities and feelings do not enter into the underwriter's equation.

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