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
"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
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
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 www.lendersone.com.