You hear a lot about shrinking origination volume these days. But for good lenders, success isn’t determined by market conditions, it happens regardless of market conditions. For example, Lenders One, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, collectively originated $224 billion in loan volume for 2013. This represents a 22 percent increase from the previous year and nearly 14 percent of the total U.S. origination volume.
“Despite the market correction that began last summer, our members continue to see market share increases,” said Jeff McGuiness, CEO of Lenders One. “The lenders that planned for change are successfully navigating the purchase market and adapting to the new regulations, while protecting their margins. They selected partners and programs from the Lenders One platform that flexed with their business volume and product needs.”
Part of that success is attributed to the lender members’ access to multiple preferred investor relationships, including six preferred investors that joined the cooperative in 2013:
>> 360 Mortgage Group
>> Homeward Residential Capital
>> Liberty Home Equity Solutions, Inc.
>> New Penn Financial
>> Weststar Mortgage Corp.
>> Prospect Mortgage
“Lenders One is committed to using the collective negotiating power of the cooperative to deliver the resources and benefits that help our members continue to succeed, regardless of market cycle,” concluded McGuiness.
Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the St. Louis-based platform originated more than $224 billion in mortgages in 2013; collectively ranking as one of the largest retail mortgage origination entities in the U.S. Lenders One, nearly 275 lender members strong, is managed by a subsidiary of Altisource Portfolio Solutions, S.A.