California Real Estate Practice Exam

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Which of the following is not considered an institutional lender?

Mortgage company
Bank
Credit union
Savings and loan association

The correct answer is: Mortgage company

An institutional lender is typically an established financial institution that provides loans to individuals or businesses. Banks, credit unions, and savings and loan associations are all examples of institutional lenders. Mortgage companies, unlike the other options, are not typically considered institutional lenders because they primarily act as intermediaries between lenders and borrowers rather than providing loans themselves. While mortgage companies may facilitate loans, they do not have the same level of financial assets and resources as traditional institutional lenders. Therefore, they are not typically considered institutional lenders in the same way that banks and credit unions are.