HousingWire recently spoke with Desmond Smith, chief growth officer at United Wholesale Mortgage, about the role that wholesale lending plays in the mortgage ecosystem and common myths and misconceptions about becoming an independent mortgage broker.
HousingWire: What role has wholesale lending historically played in the mortgage ecosystem?
Desmond Smith: There are two ways to get a mortgage — wholesale or retail. Retail lending is when you walk into a bank branch or go to an online lender, and they help you get a mortgage. In the wholesale channel, you work with a local independent mortgage details ⇒
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