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Mortgage glossary
Lender
The bank, credit union, mortgage company, or other authorized entity that approves and provides the loan funds. The lender sets program requirements within applicable law and may later transfer servicing or sell the loan.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.