(833) 334-7323 833-754-7323 info@ireaf.com Ins/Real Est Adv & Fac, LLC
Traffic Dashboard
Home
  • Home
    • Blog
    • Staff Profiles
    • Testimonials
    • Contact
    • Payments
  • Seller Info
    • Free Home Valuation
    • Selling Your Own Home
    • Types of Listing Contracts
    • Real Property Vs. Personal property
    • Home Appretiation
    • Short Sale Seller
    • Homeowner Warranties
  • Buyer Info
    • Lender Types
    • Real Estate Glossary
    • Lease Analysis
    • For Buyers
    • 9 Steps to Owning
    • Your FICO Score
    • Austin Buyers
    • Why an Inspection?
    • Home Buyer Checklist
    • Applying For a Loan
    • Loan Application Checklist
    • Loan Programs
    • Creative Financing
    • Your Down Payment
    • Inspection Tips
    • Housing Finance Agencies
    • Short Sale Buyer
    • Buying Foreclosures/REO's
    • Fixer Uppers
  • Search for Homes
    • Properties
    • Featured Properties
    • Browse Areas
    • Regional Map Tool
    • Mortgage Calculator
  • Insurance
    • Life Insurance
    • Life Insurance Costs
    • Health Insurance
    • Annuity
    • Annuity Types
  • Mediation
  • Arbitration
Traffic Dashboard
Main telephone number
(833) 334-7323 info@ireaf.com
  • IREAF, LLC
    7600 Chevy Chase Drive Building #2 #Suite 300
    Austin, TX 78752
    833-552-7124
    info@ireaf.com
About
  • Home
  • About
  • Contact
Search
  • Search Properties
Legal
  • Privacy
  • Terms
  • DMCA
  • Accessibility
  • Fair Housing
Account
  • Dashboard
  • Logout
  • Login
IREAF LLC - Footer Logo
©2026 Ins/Real Est Adv & Fac, LLC. All rights reserved.
Website built by CloseHack.
  • Texas Real Estate Commission Consumer Protection Notice
  • Texas Real Estate Commission Information About Brokerage Services
Central Texas Multiple Listing Service

Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than IREAF LLC may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.

Austin Board of Realtors

The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.

LERA MLS

Information provided Courtesy of LERA MLS - Local Expertise Regional Access. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of the San Antonio Board of Realtors. Copyright 2025 LERA MLS, All Rights Reserved.

Types of Mortgage Lenders

There are a number of types of primary mortgage lenders that you may encounter when shopping for your mortgage loan. To give you a better understanding of these service providers, a brief explanation is provided below.

IREAF Exclusive

Looking for Mortgage Lenders?

Request Info
  • MORTGAGE BANKERS
  • PORTFOLIO LENDERS
  • DIRECT LENDERS
  • CORRESPONDENTS
  • MORTGAGE BROKERS
  • WHOLESALE LENDERS

Typically originate loans and then sell these loans to the secondary mortgage market shortly after funding. (The mortgage banker may or may not sell the servicing of the loan.) Often mortgage bankers have attractive loan programs and rates.

Make loans with the institution's own funds and keep the loan on the institution's books rather than immediately selling it to the secondary mortgage market. Many institutions engage in mortgage banking as well as portfolio lending. Since portfolio lenders fund the loans, they are not confined to Freddie Mac/Fannie Mae guidelines. After a portfolio loan has reached its one year anniversary date without any late payments, it is considered seasoned and may be sold to the secondary mortgage market even if it does not meet Freddie Mac/Fannie Mae guidelines. If a portfolio loan is sold to the secondary mortgage market, the portfolio lender may continue to service the loan.

Fund their own loans. Direct lenders usually fall into the category of mortgage bankers or portfolio lenders.

Act on behalf of one or several lenders (sponsors) throughout the origination and closing. The loan is usually underwritten by the sponsor. The correspondent acts as the lender's agent. The correspondent may also service the loan for the lender.

Work as intermediaries between lenders and borrowers. Mortgage brokers have access to a number of lenders and often offer the most variety in loan programs. Brokers assist the borrower in filling out the loan application, obtaining the credit report and appraisal, selecting a loan program and finding a lender to fund the loan. In general, brokers do not make the decision to extend the loan and do not fund the loan. The mortgage broker may be paid by the borrower or the lender. Payment to the broker is typically included in the closing costs as either fees or points.

Underwrite and fund mortgage loans. Wholesale lenders may also service the loan payments and ensure the loan's compliance with underwriting guidelines.

Banks, Credit Unions & Savings & Loan

  • Use funds gathered from their customers through checking, savings and certificates of deposit to make mortgage loans. The institution may hold the loan in its portfolio or sell it to a secondary mortgage market.

Secondary Mortgage Market

  • When you apply for a home mortgage, you may be under the impression that the mortgage lender will be servicing the loan until it is paid off. This may not be the case. It is common practice for the mortgage loan to be bought and sold to a secondary mortgage market investor, sometimes more than once in the life of a loan.
  • These transactions will not affect your mortgage amount or your mortgage payment. The secondary mortgage market is comprised of investors like Fannie Mae and Freddie Mac. Selling loans to the secondary mortgage market provides primary lenders with funds needed to issue new mortgage loans.

Get Updates About Your Local Real Estate Market

Contact Us