Correspondent lenders are small lenders who do have the right to extend loans on their own risk and have the necessary funds to do so, unlike mortgage brokers who will often only shop loans for the borrower.
Correspondent Bank
Correspondent Bank definition :
Bank that accepts deposits of, and performs services for, another bank (called a respondent bank); in most cases, the two banks are in different cities.
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Correspondent
The name given to a bank, broker, dealer, or financial institution that acts on behalf of another financial institution with limited or restricted access to the financial markets where a transaction must occur.
CORRESPONDENT
In general, a preparer or recipient of correspondence. See also CORRESPONDENT BANK.
LOAN ...
Correspondent Bank: A bank that accepts deposits and performs banking services for other banks. Correspondent banking arrangements exist between local banks and banks located throughout the world.
Correspondent
A securities firm, bank or other financial organization that regularly performs services for another in a place or market to which the other does not have direct access.
CORRESPONDENT BANK
A bank that, in its own country, handles the business of a foreign bank.
COUNTERTRADE ...
Correspondent Bank - a bank that maintains an account relationship with another bank or exchanges services with another bank. Correspondents frequently clear checks for each other or participate in large loans, thus sharing the risk.
Correspondent
A lender who delivers loans to a (usually larger) wholesale lender against prior price commitments the wholesaler has made to the correspondent. The commitment protects the correspondent against pipeline risk.
Correspondent Bank: A foreign bank with which a domestic bank transacts commercial business, and to whom the domestic bank will refer international customers for banking services.
Correspondent Bank:
Usually a bank located in a foreign country with whom a domestic bank transacts commercial business, and to whom the domestic bank will refer customers for banking services in that country.
Cosigner: ...
Correspondent
A financial organization that performs services (acts as an intermediary) in a market for another organization that does not have access to that market.
Cost Accounting ...
Correspondent Bank
A bank which is a depository for another bank, accepting deposits and collecting items for its bank depositor.
Cost and Freight (...named port of destination) ...
correspondent bank
A bank that serves as a depository and provides banking services for another bank.
cosigner, co-maker and co-obligor ...
Correspondent
A correspondent is a financial institution, such as a bank or brokerage firm, that handles transactions on behalf of another financial institution that it can't complete on its own.
Correspondent bank
Bank that handles in its own country the business of a foreign bank.
Cost and freight (CFR) ...
correspondent
financial organization that regularly performs services for another in a market inaccessible to the other. In banking there is usually a depository relationship that compensates for expenses and facilitates transactions.
Correspondent Account
An account established to receive deposits from, make payments on behalf of a foreign financial institution or handle other financial transactions relates to such institution.
Correspondent Banking
The provision of banking services from one FI to another. Services may include deposits, loans, LC advising and confirming and foreign currency clearing and settlement.
Correspondent - Is a financial institution which performs activities or services for another financial institution. Sometimes, this arrangement occurs because of a lack of physical presence in a particular geographic area.
Correspondent Bank
A financial institution that provides services on behalf of another, equal or unequal, financial institution.
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English: Correspondent bank
Français: Banque correspondante
Banco de banqueros:
Banco que funciona como cámara de compensación para operaciones financieras, establecido de común acuerdo por bancos independientes y no afiliados.
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MORTGAGE LOAN CORRESPONDENT A mortgage banker who services mortgage loans as an agent for either the owner of the mortgage or an investor. Also applies to the mortgage banker in the role of originator of mortgage loans for an investor.
Dictionary Term
correspondent bank
Dictionary Term
agency bank
Dictionary Term
Bank for International Settlements ...
This occurs when the issuing bank does not have an office in the country of the beneficiary and uses the facilities of a correspondent bank.
American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue.
depositary bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. One A.D.R. may represent a portion of a foreign share, one share or a bundle of shares of a foreign corporation. If the A.D.
correspondency system The system through which loan correspondents originate and administer loans correspondent A bank, brokerage or other financial institution that performs services for...
Pershing LLC ("Pershing") is an industry leader in providing correspondent brokerage services, providing approximately 550 independent securities firms and registered investment advisors with a comprehensive range of trade execution, ...
commercial instrument through which a bank or other financial institution instructs a correspondent institution to advance a specified sum of money to the bearer.
An ADR documents the holder's beneficial ownership of foreign stock held in trust by a foreign branch or correspondent of an American bank.
Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue.
shares held by the bank, usually by a branch or correspondent in the country of issue. One ADR may
represent a portion of a foreign share, one share or a bundle of shares of a foreign corporation. If the ADR's ...
Correspondent/nostro accounts;
Foreign financial accounts owned by a governmental entity;
Foreign financial accounts owned by an international financial institution;
IRA owners and beneficiaries; ...
It should be noted that the shares in these cases are generally lent by the New York correspondent, thus saving loss of interest. The resulting profit in this particular instance was 4s. 4d.
An 'advising bank' is a correspondent of a bank which issues a letter of credit, and, on behalf of the issuing bank, the advising bank notifies the beneficiary of the terms of the credit, without engagement on its part to pay or guarantee the credit.
I have answered a letter in a particular newspaper where the correspondent has invited former employees to comment on his character. I concurred with all the negative adjectives used in that letter and displayed the truth about why I was fired.
Through this service, Russell introduces securities transactions to more than 390 clients around the globe through a network of 21 correspondent brokers in 44 countries, to give clients access to significant savings in global markets.
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Source: Brooke Masters, Chief Regulation Correspondent, Financial Times
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A bank that opens a straight or a negotiable letter of credit. This bank assumes the obligation to pay the beneficiary or a correspondent bank if the documents presented are in accordance with the terms of the letters of Edit.
A written authority from one person to another, empowering the recipient of the document to receive money from the correspondents of the issuer abroad . (The usual issuer is a bank)
Bill of Exchange
Draft or Bill.
International Banking
The operation of bank branches and subsidiaries located outside Canada. This area of banking also includes the supervision of correspondent banking relationships, foreign exchange trading, and trade finance.
Fees associated with the creating or releasing of ADRs from ordinary shares, charged by the commercial banks with correspondent banks in the international sites.
American Depository Receipt Ratio ...
Frais qui s'ajoutent au prix de vente des parts de fonds communs de placement et qui servent à couvrir le courtage et tous les autres frais de distribution. Ces frais correspondent généralement à ...
Typically, the bank will not work directly with the exporter but with the exporter's correspondent bank. The exporter may realize proceeds from the bankers acceptance in several ways.
Correspondent A financial organization that acts as a proxy for another similar organization that lacks direct access to certain places or markets. Coupon bond An unregistered debt instrument payable to the holder via detachable coupons.
An IDR is a negotiable bank-issued certificate representing ownership of stock securities by an investor outside the country of origin. The securities backing the receipt remain in the custody of the issuing bank or a correspondent.
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