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Non-delegated correspondent lending lets a mortgage company close loans in its own name while the investor handles underwriting. TAG Lending Group operates as a non-delegated correspondent lender in Miami. Here's how the model works and how to tell whether it fits your brokerage.
| Broker | Non-delegated correspondent | Delegated correspondent | |
|---|---|---|---|
| Closes in its own name | No | Yes | Yes |
| Who underwrites | Lender | Investor | Correspondent |
| Funds the loan | Lender | Correspondent, usually on a warehouse line | Correspondent |
| Typical requirements | Broker license | Lender license, net worth, warehouse line, quality control plan | Higher net worth, in-house underwriting |
Typical requirements vary by state and investor.
Consider it if you:
Not there yet? Start as a broker partner on our wholesale channel.
Requirements vary by state and investor. This is general information, not legal or licensing advice.
TAG Lending Group operates as a lender in Florida, South Carolina, Tennessee, Texas, Georgia, Michigan, New Mexico and Ohio. In Connecticut, Pennsylvania and New Jersey, TAG is licensed as a mortgage broker only. See state licensing.
A lender that closes loans in its own name and sells them to investors who underwrite each loan before purchase.
A broker originates and the lender closes. A non-delegated correspondent closes and funds in its own name, then sells the loan.
Usually, yes. Most correspondents fund loans on a warehouse line before the investor buys them.
Yes, if it meets licensing, net worth and funding requirements. Many start as brokers and transition as volume grows.
TAG Lending Group, LLC · NMLS #2329372 (NMLS Consumer Access) · Equal Housing Opportunity · 335 S Biscayne Blvd, Suite 2809, Miami, FL
Licensed mortgage lender in FL, SC, TN, TX, GA, MI, NM and OH. Licensed mortgage broker only in CT, PA and NJ. State licensing & disclosures.
General information for mortgage professionals only, not legal, licensing or financial advice. Licensing and investor requirements vary and may change without notice.