Loan correspondent definition
Loan correspondent means a person engaged in the business of making mortgage loans as a third party originator and who does not engage in all three of the following activities with respect to each mortgage loan:
Examples of Loan correspondent in a sentence
Compliance with Laws: With respect to each Loan submitted by Broker and funded by Lender, Broker has complied with all laws and regulations applicable to it as a mortgage broker, and as a Loan correspondent under HUD regulations, including but not limited to the Real Estate Settlement Procedures Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Truth In Lending Act, and all other applicable local, state, and Federal laws and regulations.