Lender Types
How Elementix categorizes lenders and what each type means.
Enriched lenders in Elementix are classified into one of the following types based on their primary business model. You can filter by lender type across the platform.
Lender classifications are not perfect. Some lenders may fit into multiple categories. We make a best effort to classify the primary business model of the lender.
Private Money
Non-bank lenders that originate business-purpose loans directly to real estate investors — primarily for fix-and-flip, construction, DSCR rental, and bridge loans. Typical loan sizes range from $100K to $5M. This is the category historically known as "hard money" that has professionalized and scaled over the past decade. Private money lenders are distinguished from debt funds by their smaller loan sizes, higher volume, and focus on individual real estate investors and small operators rather than institutional sponsors.
Examples: Kiavi, Roc Capital / Roc360, RCN Capital, Easy Street Capital, Visio Lending, Lima One Capital, CoreVest Finance, Anchor Loans
Bank
Federally or state-chartered depository institutions (commercial banks, savings banks, or thrifts) that accept deposits and make loans. Regulated by the OCC, FDIC, or state banking authorities. Banks originate CRE loans, construction loans, and investor property loans on their own balance sheet using depositor funds.
Examples: JPMorgan Chase Bank, Bank of America, Cadence Bank, Wells Fargo Bank, SouthState Bank
Credit Union
Member-owned, not-for-profit cooperative financial institutions chartered at the federal or state level. Regulated by the NCUA. Credit unions accept deposits and make loans to a defined membership base.
Examples: Navy Federal Credit Union, PenFed Credit Union, Bethpage Federal Credit Union, Suncoast Credit Union
Mortgage Banker
Non-bank loan originators that originate mortgage loans using warehouse lines of credit and sell them into the secondary market. In the business-purpose space, these typically originate DSCR rental loans and non-QM products through broker and correspondent (TPO) channels.
If a mortgage banker exclusively or primarily originates business-purpose loans, they are classified as Private Money instead.
Examples: UWM, CrossCountry Mortgage, Rocket Mortgage, Deephaven Mortgage, Angel Oak Mortgage Solutions
Agency
Lenders whose primary business is originating multifamily and commercial real estate loans for sale to or on behalf of Fannie Mae, Freddie Mac, and/or FHA/HUD. These firms are approved as DUS (Delegated Underwriting and Servicing) lenders, Optigo lenders, or FHA MAP/LEAN correspondents. They typically retain servicing rights while credit risk is borne by the GSE or agency. Loan sizes are generally $5M+ and concentrated in multifamily housing.
Examples: Berkadia Commercial Mortgage, Walker & Dunlop, CBRE Capital Markets, Greystone, Arbor Realty Trust, Lument
Insurance Company
Life insurance companies, annuity providers, or reinsurers that originate or acquire mortgage loans as portfolio investments to match long-duration liabilities. These are among the most conservative CRE lenders, favoring stabilized core assets with long loan terms (10–30 years) and low leverage. They hold loans on their general account balance sheet.
Examples: New York Life Insurance Company, Prudential Financial, Northwestern Mutual, MetLife, Principal
Debt Fund
Institutional alternative lenders that raise capital from limited partners (pension funds, endowments, family offices, sovereign wealth) in a fund structure to originate or acquire commercial real estate loans. Typically focused on transitional/bridge lending, mezzanine, and higher-yield strategies on larger assets. Distinguished from Private Money by their institutional capital base, fund governance structure, and focus on larger, more complex transactions.
Examples: Churchill Real Estate, Fortress Investment Group, Blackstone Mortgage Trust, Ladder Capital, Starwood Property Trust
Servicer
Entities that appear in mortgage records primarily as the servicer or assignee of existing loans, not as the original lender. Servicers collect payments, manage escrow, and handle loss mitigation on behalf of loan owners. They appear in county records through assignments of mortgage rather than original originations.
Examples: Lakeview Loan Servicing, NewRez, Mr. Cooper, Carrington Mortgage Services, PHH Mortgage
Government
Federal, state, or local government agencies, government-sponsored enterprises, or quasi-governmental entities that directly originate, guarantee, or fund mortgage loans. This includes agricultural lending arms (Farm Credit System), housing finance agencies, the SBA, and development corporations created by government mandate.
Examples: U.S. Small Business Administration, Fannie Mae, Freddie Mac, Capital Farm Credit