Lenders One reports record growth during industrywide contraction MortgagePress.comLenders One, mergers, loan production
In contrast to the state of todays mortgage industry, Lenders
One Mortgage Cooperative, a national alliance of mortgage bankers,
reported record growth in total loan production and new membership
during the first quarter 2008.
Lenders One is a national alliance of mortgage bankers which was
established in 2000 and is based in St. Louis. With more than 100
members originating $40 billion in mortgage loans annually, the
Lenders One alliance ranks as the ninth largest mortgage originator
in the U.S. Lenders One leverages its aggregate buying power and
preferred-investor relationships to negotiate better lending terms,
provide premium business services at reduced costs and offer
ongoing seminar training through Lenders One University.
Lenders One started the year strong by originating more than
$7.6 billion in the first quarter of 2008. This is a 22 percent
increase in total loan volume from approximately $6 billion
originated the previous quarter. With members in all 50 states,
Lenders One reported record volume in every region of the
country.
"This growth is due to the fact that Lenders One represents only
the best mortgage bankers in markets across America," said Scott
Stern, CEO of Lenders One. "During a time of unprecedented mortgage
challenges, consumers sought out and eventually closed loans with
honest, trustworthy and local mortgage bankers: members of Lenders
One."
In addition to increased loan volume, Lenders One has also
experienced tremendous growth in membership. The cooperative has
added 25 member companies to its roster already this year and now
has 125 mortgage banking members. Lenders One plans to continue to
grow its membership and expects to represent between 130 and 140
members by year's end. At this pace, Lenders One will set a record
for annual membership growth in 2008.
"Lenders One continues to attract mortgage bankers with its
proven revenue-enhancing and cost-saving opportunities in mortgage
fulfillment and business related products and services," Stern
said. "Through advocacy support, preferred investor relationships
and an array of educational opportunities, our collective
membership is protecting the role of mortgage bankers despite the
strain on the industry."
For more information, visit www.lendersone.com.
