Portfolio Financing (Loans retained by the bank)
These loans are mortgages retained by a particular bank that is handling the initial lending. Portfolio products can be more lenient with lending guidelines because the bank funding the loan will not need to adhere to another bank's guidelines. This way, they have the ability to make exceptions to get a loan approved more easily.
An example of portfolio loans are loans by some credit unions, some jumbo loans, and lenders who offer "outside of the box" mortgage solutions.