The Correspondent Lending Channel purchases mortgage
loans from other mortgage lenders,
including financial institutions, commercial banks, savings and
loan associations, home
builders and
credit unions.
However, Crowe offered several cautionary factors that continue to put a drag on housing activity at this time —
including builders who are experiencing difficulties in obtaining production
credit, qualified buyers who are unable to obtain mortgage
loans, inaccurate appraisals, seriously delinquent mortgages that are at least 90 days late or in foreclosure, and a limited inventory of developed lots in certain markets.