A local market where mortgage loans are originated with lenders making loans to borrowers.
The process of obtaining a real estate loan, including the consumer's completion of a loan application form, validation of the credit and property information, loan underwriting by the lender and closing of the mortgage loan.
The market where mortgage funds are distributed from lenders to individual borrowers. It is contrasted with the secondary mortgage market (see Secondary Market), where mortgage loans are sold by lenders to investors.