Lenders One has volume exceed $17 billion during Q1 of '09
Lenders One Mortgage Cooperative, a national alliance of over 135 mortgage bankers, announced that its volume for the first quarter of 2009 was the best in the company’s history. Lenders One announced that the organization originated $17.3 billion in the first quarter of 2009 which was a substantial increase from the $9.2 billion originated in the fourth quarter of 2008 and the $7.6 billion produced in the first quarter of 2008.
“Our members are determined to originate a high volume of high quality loans to meet the needs of consumers during any economic climate,” said Scott Stern, CEO of Lenders One. “Lenders One uses the collective buying power of the membership to provide revenue-enhancing, cost-saving and market-share expanding opportunities to their Members. Achieving production of over $17 billion in the first quarter of 2009 is a clear testament that our members are taking advantage of the power of the Lenders One organization."
If Lenders One was considered a single entity, the cooperative of more than 130 independent mortgage banks would rank fifth in the country for its first quarter loan origination volume. The company’s goal is to reach a total volume of more than $70 billion for 2009.
“The cooperative makes a difference in our performance and in our ability to compete in the evolving world of mortgage banking,” said Jim Carroll, president of Carroll Mortgage Group in Little Rock, Ark., and a Lenders One member. “We are delighted and proud of our association with Lenders One. In short, they have earned our respect, trust and loyalty.”
For more information, visit www.lendersone.com.
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