What Is A Correspondent Lender?
A correspondent lender is a financial institution that takes on the entire loan process, from origination to funding. These lenders use their own resources to fund loans and then sell the finalized loans to government-backed entities like Fannie Mae or Freddie Mac or private investors to free up capital for future lending.
For smaller lenders or those aiming to expand their offerings without the burden of added operational complexity, partnering with larger or more experienced lenders offers a streamlined solution. This approach to correspondent lending enables businesses to originate, close, and fund mortgages under their own brand, empowering them to scale their operations and better serve their clients while relying on their partner to handle the behind-the-scenes processes.
Best Correspondent Lenders In 2025
Lender 1: New Silver

Overview
New Silver is a direct lender specializing in fix and flip loans and ground-up construction financing, and one of the top correspondent lenders in 2025. Their Partner+ Program takes correspondent lending to the next level by offering 100% free white-label software that enables lenders to seamlessly provide their clients with access to reliable capital. The program features instant online approval, term sheets, and proof of funds, making the lending process efficient and client-friendly.
The Partner+ Program is designed for experienced mortgage lenders with expertise in underwriting, servicing, and a proven track record in lending. As a correspondent, you’ll have access to New Silver’s cutting-edge software to streamline loan origination, while maintaining responsibility for marketing, underwriting, asset management, servicing, and collections.
Correspondents earn attractive compensation through origination fees and a portion of the monthly interest, making this program an excellent fit for lenders looking to scale their business while leveraging New Silver’s robust platform and resources in the correspondent lending space.
Loan types:
Best suited to
New Silver’s Partner+ Program is ideal for lenders with at least 12 months of origination experience and a proven track record of closing 10 or more deals per year. To ensure a strong foundation for success, partners should have a functional website, be legally operational, and maintain good standing in their business practices. Experience in asset management and a history of successful lending are key qualifications for those looking to maximize the benefits of this program and create long term relationships.
Lender 2: Rocket Mortgage

Overview
Rocket Pro TPO is another of the top correspondent lenders in the mortgage industry providing two correspondent lending options through Rocket Mortgage: Correspondent Assist and Correspondent Flex, designed for non-delegated correspondent mortgage lenders.
- Correspondent Assist: Rocket Mortgage manages underwriting and prepares all necessary documents, including loan estimates, disclosures, and closing packages. Borrowers use a digital portal branded with the partner lender’s identity to complete their application and manage the process.
- Correspondent Flex: In this program, Rocket Mortgage handles the underwriting, while the partner lender oversees application processing, disclosures, and closing documents, giving the lender more direct involvement in the loan process.
Loan types:
- Conventional Loans: Fixed-rate and adjustable-rate mortgages (ARMs) with various term options.
- Government-Backed Loans: FHA and VA loans designed to assist eligible borrowers.
- Jumbo Loans:
- Affordable Loan Options: Programs like Home Possible® and HomeReady® for qualifying clients.
Best suited to
Rocket Pro TPO’s correspondent lending programs are ideal for lenders in the mortgage industry with an established client base and experience in loan origination. These programs cater to those seeking to expand their offerings with diverse loan options, leveraging Rocket’s advanced technology and underwriting expertise while maintaining control over their client relationships and branding.
Lender 3: CMG Financial

Overview
CMG Financial’s Correspondent Lending Program is designed to help mortgage originators expand their offerings and meet diverse client needs. They provide two options for correspondent lending:
- Delegated Correspondent Lending: Lenders approved by CMG Financial can manage the underwriting process themselves, as long as the loans align with CMG’s guidelines. Once the loans are closed, they are sold to CMG Financial.
- Non-Delegated Correspondent Lending: In this option, CMG Financial handles the underwriting and makes the final loan approval decisions. After the loans are approved and closed, they are sold to CMG Financial.
Loan types:
- Conventional fixed-rate loan programs
- Government loan programs like FHA, VA, USDA
- Jumbo loans
Best Suited To
Lenders aiming to become correspondent sellers who meet the following criteria: a minimum two-year operating history, experienced senior management in key roles, a minimum net worth of $2,000,000 backed by audited financials, a history of positive retained earnings, strong liquidity, and other essential qualifications. This program is tailored for established and well-managed lending institutions with a solid financial foundation.
Lender 4: PennyMac

Overview
PennyMac Correspondent Program specializes in acquiring newly originated residential loans from independent mortgage bankers, banks, and credit unions. They offer two options for correspondent lending:
- Delegated Correspondent Lending: Lenders retain control of underwriting as long as the loans meet PennyMac’s guidelines. Once the loans are closed, they are sold to PennyMac.
- Non-Delegated Correspondent Lending: PennyMac manages the underwriting process and decides on loan approvals. After approval, the loans are sold to PennyMac.
Loan types:
- Conforming: Fannie Mae and Freddie Mac loans
- Government: FHA, USDA, VA loans
- Non-conforming: Jumbo loans
Best Suited To
Lenders who want to utilize PennyMac’s underwriting expertise for efficiency or those who prefer to retain control over underwriting while relying on PennyMac’s robust loan acquisition resources. This makes it a versatile option for lenders with diverse operational preferences.
How To Choose The Right Correspondent Lender For Your Business
Tip 1: Prioritize Reputation
A lender’s reputation is a key indicator of their reliability and quality of service. Research the top correspondent lenders through their track record by reviewing their history, reading customer feedback, and connecting with other professionals in the mortgage industry. A strong reputation reflects consistent and efficient service, which is critical for a successful partnership in a correspondent channel.
Tip 2: Focus on Technology
Choose a lender that embraces the latest technology to enhance the lending process. Tech-forward lenders offer tools that streamline operations, improve efficiency, and provide a seamless experience for your clients. A lender with robust technology ensures you stay competitive in a fast-paced market.
Tip 3: Look for Specialized Expertise
Partner with a lender who understands your niche and specializes in the areas most relevant to your business, such as real estate. Their expertise will ensure they comprehend your specific needs and can provide solutions tailored to your goals, creating a more effective and collaborative correspondent channel that can lead to long term relationships.