# Correspondent Lending

> Correspondent Lending funds and transfers loans between production and permanent capital

| Field | Value |
|---|---|
| Stable ID | `node:kiduna:real-estate-mortgage:whole-loan-warehouse:correspondent-lending` |
| Family | Whole Loans, Warehouse & Correspondent |
| Domain | Economics |
| Era | Agentic Age |
| Kind | concept |
| Archetype | The Pattern |
| Claim layers | empirical, cultural_historical, synthesis, interpretive, symbolic_divinatory |

## What it is

Correspondent Lending is a concept in the Whole Loans, Warehouse & Correspondent family, defined here by the function it performs in the property system rather than by label alone.

## What it actually does

Correspondent Lending funds and transfers loans between production and permanent capital.

## Why it exists

It exists because place is unique and immovable while law, capital, information, and human lives must still coordinate around it across time.

## System mechanics

- **Who uses it:** owner, occupant, buyer, seller, lender, investor, steward, regulator
- **Incentives:** access, certainty, control, value, continuity
- **Inputs:** place, people, records, rules, resources, time
- **Outputs:** rights, constraints, uses, relationships, consequences
- **Dependencies:** Land, Authority, Information, Capital, Time

## Archetypal reading

- **Essence:** Correspondent Lending funds and transfers loans between production and permanent capital
- **Gift:** Clarity about correspondent lending makes a hidden allocation of place, time, authority, value, or risk available for deliberate choice.
- **Wound / Shadow:** When correspondent lending is treated as neutral or inevitable, its costs can be shifted to people who hold less information, authority, liquidity, or mobility.
- **Failure mode:** The failure mode appears when correspondent lending is stale, opaque, mispriced, misrecorded, overextended, or applied outside the conditions that made it useful.

## Lenses

- **Personal:** Notice where correspondent lending appears as a structure in your own commitments: what is held, promised, priced, protected, excluded, or deferred?
- **Business:** Correspondent Lending reveals a handoff among information, authority, incentives, operating work, and capital. Make the owner of each handoff explicit.
- **Financial:** Correspondent Lending changes the timing, priority, comparability, liquidity, or distribution of cash flow and risk.
- **Property:** Correspondent Lending changes how a physical place can be used, valued, financed, transferred, occupied, maintained, or reclaimed.
- **Community:** Correspondent Lending can create benefits inside one parcel while exporting costs or opportunity to neighbors, institutions, or future residents.

## Divination

The Pattern enters the reading through Correspondent Lending. The issue is not only what is visible; it is which map of ownership, time, risk, authority, or belonging currently governs the situation.

**Question:** What changes when Correspondent Lending becomes the unit of analysis?

**Guidance:** Shift scale, clock, stakeholder, boundary, and claim layer before choosing a move.

## Game function

Creates a graph move that changes the active map. Initiative 3.

## Relationships

- **Dollar Roll documents Correspondent Lending.** Dollar Roll documents Correspondent Lending through a change in rights, information, cash flow, priority, timing, or physical use.
- **Mortgage Loan Purchase Agreement depends on Correspondent Lending.** Mortgage Loan Purchase Agreement depends on Correspondent Lending through a change in rights, information, cash flow, priority, timing, or physical use.
- **Correspondent Lending constrains Wholesale Lending.** Correspondent Lending constrains Wholesale Lending through a change in rights, information, cash flow, priority, timing, or physical use.
- **Correspondent Lending transfers into Servicing Fee.** Correspondent Lending transfers into Servicing Fee through a change in rights, information, cash flow, priority, timing, or physical use.

## Oppositions

- Use Value versus Exchange Value
- Speed versus Diligence

## Historical lineage and regulatory context

Read Correspondent Lending through the lineage of Whole Loans, Warehouse & Correspondent: earlier customary or local arrangements became recorded, standardized, financed, regulated, digitized, or contested over time.

Rules vary by jurisdiction and transaction. Use the cited primary sources as starting points and verify current local law, program guides, contracts, and professional standards before operational use.

## Visual direction

Text-free rounded-square enamel artifact for Correspondent Lending: one dominant symbolic mechanism with a restrained secondary counterforce; vitreous midnight enamel, blackened steel, warm brass, copper accents, mortgage-paper cream, deep green, slate, and sky blue.

## Engine output / Sentinel handoff

The generative interpretation above is preserved as Engine Output. Sentinel factors: jurisdiction-specific rules, factual uncertainty. These factors request contextual review; they do not delete or silently rewrite the candidate.

## Research / provenance

- [Fannie Mae Selling Guide](https://singlefamily.fanniemae.com/media/document/pdf/selling-guide-february-4-2026) — Fannie Mae; loan eligibility, underwriting, appraisal, delivery.
- [Freddie Mac Single-Family Seller/Servicer Guide](https://guide.freddiemac.com/) — Freddie Mac; loan eligibility, Loan Product Advisor, servicing.
- [Risk Management Manual — Commercial Real Estate Lending](https://www.fdic.gov/risk-management-manual-examination-policies/commercial-real-estate-lending) — Federal Deposit Insurance Corporation; CRE underwriting and risk management.
