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LSDefine

Simple English definitions for legal terms

secondary lender

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A quick definition of secondary lender:

A secondary lender is a company that buys home loans from banks and savings-and-loan associations. This helps these banks and associations have more money to lend to people who want to buy homes.

A more thorough explanation:

A secondary lender is a type of wholesale mortgage buyer that purchases first mortgages from banks and savings-and-loan associations. This allows these institutions to replenish their money supply and lend more money to borrowers.

For example, let's say a bank has lent out a significant amount of money to borrowers and needs to replenish its funds. The bank can sell some of its first mortgages to a secondary lender, who will then provide the bank with the cash it needs to continue lending.

Another example is a savings-and-loan association that wants to expand its lending operations but doesn't have enough funds to do so. By selling some of its first mortgages to a secondary lender, the association can increase its lending capacity and offer more loans to borrowers.

In summary, a secondary lender plays an important role in the mortgage industry by providing banks and savings-and-loan associations with the funds they need to continue lending to borrowers.

secondary invention | secondary-line competition

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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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