An introduction: There are many types of conventional mortgage lenders available in the market these days. It compromises of the banks, credit unions and the independent mortgage lenders that the people usually approach. All the lenders differ in the terms and the conditions for extending a mortgage loan. With the growing of the internet the lenders have also grown and now the people can easily apply for loans without any complicated and tiring procedure. Various conventional lenders: Today there are different types of lenders present for extending a mortgage loan. All the lenders are more or less the same but differ in the types of mortgage they extend. Mortgage Bankers: They are the most popular mortgage lenders and provide many services alone with the loans. They provide the loans with their own money and sell them off in the secondary market. Mortgage Brokers: These are the companies that create loans with the intention of broking them in the wholesale lending institutions. Manu of the brokers also act as the correspondents which gives them the name of mortgage bankers also. Wholesale Lenders: The mortgage bankers and the portfolio lenders act as wholesale lenders. Some of them operate through the brokers who rely solely on them for the loans. Portfolio Lenders: The institution that is engaged in lending their own money and creating loans for itself is known as a portfolio lender. They are called so because they are lending their own portfolio of loans and are not worried about selling them in the secondary market.