Lending Delivery Channels

Broker Channel

In the Broker Channel, loans close in the Lender’s name but with WHEDA’s funds. WHEDA underwrites all loans. The Lender is responsible for meeting all applicable disclosure requirements, and all loans are subject to a WHEDA Paid Compensation Plan. In order to participate in the Broker Channel, lenders must maintain a minimum net worth of $1,000,000 and meet other requirements.

Correspondent Channel

In the Correspondent Channel, loans close in the Lender’s name, with the Lender’s funds (or line of credit), and are subsequently purchased by WHEDA. The Lender underwrites all loans and is responsible for meeting all applicable disclosure requirements. In order to participate in the Correspondent Channel, lenders must maintain a minimum net worth of $1,000,000 and meet other requirements.

Mini-Corr Channel

In the Mini-Corr Channel, loans close in the Lender’s name, with the Lender’s funds (or line of credit), and are subsequently purchased by WHEDA. WHEDA, however, underwrites all loans. As a result, WHEDA pays slightly less for loans delivered in the Mini-Corr Channel than in the Correspondent Channel where the Lender is responsible for underwriting. The Lender is responsible for meeting all applicable disclosure requirements. In order to participate in the Mini-Corr Channel, lenders must maintain a minimum net worth of $1,000,000 and meet other requirements.