A lender who works only with mortgage brokers and takes completed loan packages and underwrites them. They offer mortgage brokers discounted pricing in return for the up-front work done by the mortgage broker.

A lender who funds mortgage loans originated through brokers or correspondents, and then sells those loans to investors in the secondary market. Some wholesale lenders are warehousers. For more information, see the "History of the Mortgage Industry" article in the "Mortgage Industry" section.