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Wholesale One has announced three charter mortgage broker members and the addition of two wholesale investors to the cooperative platform. Wholesale One is managed by a division of Altisource Portfolio Solutions.
“The mortgage market is seeking cost effective and efficient access to lending products and services that drive productivity and help address important compliance needs,” said Greg Murray, chief executive officer of Wholesale One. “With our relationships in the mortgage industry we have quickly converted Wholesale One from a concept to an entity delivering value to members.”
New charter mortgage brokers to Wholesale One include The Advantage Mortgage Group of Scottsdale, Ariz.; Advantage Rate Mortgage of Matthews, N.C.; and Ultimate Rate Mortgage Company of Des Plaines, Ill.
“The cooperative model is attractive for independent brokers for the way it streamlines our fragmented marketplace and helps us drive efficiency and productivity,” said Stan Wang, president of The Advantage Mortgage Group. “We joined Wholesale One to help us grow our business and know our borrowers will benefit from the access to products, services and expertise while we benefit from reducing costs and getting assistance meeting complex regulatory requirements.”
In addition, two charter wholesalers will participate on the Wholesale One platform and work with brokers to find the best loan product for their borrowers. The charter wholesalers areAngel Oak Mortgage Solutions of Atlanta, Ga. and SterneAgee Mortgage of Orlando, Fla. The addition of the charter wholesalers immediately offers Wholesale One members the ability to access agency and non-agency loans.
“Many brokers may not be aware of the lending options available for non-agency borrowers, so Wholesale One is expanding the exposure to borrowing alternatives and giving us new ways to grow our business,” said Tom Hutchens, senior vice president of sales and marketing for Angel Oak Mortgage Solutions. “By being a part of of the Wholesale One cooperative, we’re giving brokers confidence that we have been vetted as a lender for their non-agency loans.”