Lenders One Mortgage Cooperative has announced that Affiliated Mortgage Company (AMC) has renewed its preferred investor relationship with the cooperative. AMC is a wholly-owned subsidiary of Benchmark Bank of Dallas and Plano, Texas. AMC signed on as a preferred investor for Lenders One in 2009 and then joined as a member in March 2011, marking the first time in the cooperative’s history that a preferred investor subsequently became a member. AMC focuses on correspondent lending and buying agency-quality whole loans, and prides itself on providing customers direct access to senior management in secondary marketing, registration, underwriting and funding. The renewed partnership with AMC helps enable other Lenders One members to expand and build their product line, capture more purchase market share and compete with the larger aggregators.
“As both a member and a preferred investor, Affiliated uniquely understands the strategic role that preferred investors play in our business model,” said Jeff McGuiness chief executive officer of Lenders One. With the correspondent markets in a state of flux, providing stable funding sources for our members is critical to what we do. Affiliated Mortgage Company has been a terrific partner to Lenders One and we’re pleased that this renewal continues to build this relationship.”
Dan Hastings, CMB, president of Affiliated Mortgage Company, said, “In light of the significant contractions within the correspondent space, we have really been able to step in and expand our business among Lenders One members. Continuing with this partnership allows us to fulfill a vital role for these lenders when other correspondent programs are cutting back. Also, as a Lenders One member, we can more easily stay on top of regulatory and compliance changes in the market.”