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 Securities firms may have correspondents in foreign countries or on exchanges of which they are not members Correspondents are frequently linked by private wires Member organizations of the NYSE with offices in New York may also act as correspondents for out-of-town member organizations that do not maintain New York offices
A lender who delivers loans to a wholesale lender against prior price commitments the wholesaler has made to the correspondent The commitment protects the correspondent against pipeline risk
a financial organization that acts as an intermediary for another organization without access to a particular market
similar or correspondent in some respects though otherwise dissimilar; "brains and computers are often considered analogous"; "surimi is marketed as analogous to crabmeat"
A lender who delivers loans to a wholesaler against prior price commitments the wholesaler has made to the correspondent The commitment protects the correspondent against pipeline risk