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Campbell Communications survey: Real estate agents shows 19 percent drop in home sales from September to October

National Mortgage Professional
Nov 12, 2008

Lenders One adds to membership, continues steady growthMortgagePress.comLenders One Mortgage Cooperative, North American Savings Bank, Residential Pacific Mortgage, Great Florida Bank, Michigan Mutual, Los Alamos National Bank, Superior Mortgage Corporation After reporting record membership growth in the first half of 2008, Lenders One Mortgage Cooperative, a national alliance of independent mortgage bankers, continues to attract new members with the addition of Leawood, Kan.-based North American Savings Bank FSB; Walnut Creek, Calif.-based Residential Pacific Mortgage Inc.; Miami Lakes, Fla.-based Great Florida Bank and Port Huron, Mich.-based Michigan Mutual. This brings the new member total to 28 this year. "As the mortgage market shifts, there are borrowers who still require the best product offering available," said Scott Stern, CEO of Lenders One. "Lenders One members work together to leverage their knowledge and resources to meet consumer demand while providing superior service. The continued interest lenders across the country have in our cooperative is evidence that to succeed in todays industry, no one can go it alone." In addition to the previously mentioned banks, New Mexico-based Los Alamos National Bank and Hammonton, N.J.-based Superior Mortgage Corporation joined Lenders One in May. After working with the cooperative previously through a preferred lending relationship, management at Los Alamos decided it was time to become a member. "Lenders One is very proactive in the management of its lender and third party relations, as well as in its communication standards with members," said Ian MacGillivray, business development officer at Los Alamos. "Particularly in a rapidly changing marketplace, a cooperative of this size provides the help and support banks need in future contract negotiations with lenders and these third party entities." The pricing through Fannie Mae and other third party vendors attracted Los Alamos to join Lenders One. The bank provides all kinds of lending services, including commercial, residential, consumer, construction and development loans. It has nearly 300 employees and is separated into a lending center in Albuquerque and four full-service branches, with a fifth location opening next year. Superior Mortgage has grown from one location with 26 employees to 32 locations with 300 employees in only 11 years. Stephen Cors, CEO of Superior, said, "The opportunity to share ideas with other industry professionals is attractive to independent mortgage bankers. Earning additional dollars from loans that we were already producing because of Lenders Ones reduced pricing is a bonus as well." Lenders One set a goal to grow its total membership to 130 lenders by year's end after seeing membership increase by approximately 33 percent last year. In just eight years, Lenders One has positioned itself as the largest and fastest growing mortgage cooperative in America, with members representative of all 50 states. The collective power of these mortgage lenders results in better price negotiations in mortgage sales and improved profitability compared with individual mortgage bankers. "Retail and wholesale mortgage bankers recognize the opportunities with Lenders One to maximize their business, and understand that networking with their competitors and top vendors in this industry is their best chance to thrive in any market environment," Stern said. For more information, visit
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