Similar to a broker, who just takes a file to a lender and hands it off, a correspondent lender and the investor work together to make your file come to fruition. This is especially important when it comes to VA loans as not all VA lenders play in the same sand box. Some investors have what is known as overlays and these overlays supersede what the VA says in their lender handbook.
What that means for the consumer is one investor may decline a file whereas another may welcome it with opened arms. That is why our experience is so important to your file. Other lenders may offer flashy interest rates, but if the file never closes, what is the point?