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Lenders One Successfully Navigates Market, Celebrates Eight Years
Cooperative continues to build presence in mortgage industry
St. Louis, MO (October 1, 2008) – Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, is celebrating its eighth year of service in the mortgage industry. The cooperative started the year strong by originating more than $20.4 billion in the first seven months of 2008, during which Lenders One also experienced record growth in production and membership.
“Lenders One always provides great benefits to mortgage bankers, but the value of those benefits is heightened when the market is difficult as it is now,” said Scott Stern, CEO of Lenders One.
Lenders One uses the buying power of its membership to deliver programs that maximize revenues, minimize expenses and expand market share. Stern continued, “In addition to buying power, Lenders One provides its members the training and resources, among other services, to adapt to a changing marketplace. The cooperative truly focuses on providing services that mortgage bankers need, and then we leverage the experience and knowledge of each member company to help them succeed and to thrive.”
Lenders One management projects its membership to rise to approximately 140 members by year’s end. The cooperative also plans to expand its preferred partnerships.
“Each year the cooperative’s membership has experienced steady growth, and that is especially notable during the last two years because of the very state of the mortgage industry,” said Tim Stern, president of Lenders One. “Small- to mid-sized mortgage banks see an obvious benefit to joining Lenders One. Our strong presence in the current mortgage industry is further evidence of the value that mortgage bankers see in membership with Lenders One.”
From creative advertising and marketing campaigns to educational seminars on the latest loan products and services, the cooperative continues to expand the breadth of services offered to its member network. Lenders One provides the support necessary to accommodate the surge in FHA loans, as well as the tools for members to promote their business on the community and national levels.
St. Louis-based Paramount Mortgage joined Lenders One in 2000 as the alliance’s first member company. David Griege, executive vice president, recalled, “During the past eight years, the growth at Lenders One has contributed to our business’ growth as well. The constant addition of new preferred vendors and investors enables Paramount Mortgage to be a top competitor with access to enhanced pricing and products.”
Barry Sandweiss, COO of Lenders One, added, “Lenders today recognize the difficulty in maintaining production while trying to build new business without the help of a member group or cooperative. Lenders One has a dedicated staff to assist our members with their day-to-day business needs. We look forward to seeing the next eight years surpass the success that we have achieved already.”
About Lenders One Mortgage Cooperative
Lenders One is a national alliance of mortgage bankers which was established in 2000 and is based in St. Louis. With more than 125 members originating $40 billion in mortgage loans annually, the Lenders One alliance ranks as the ninth largest mortgage originator in the U.S. Lenders One leverages its aggregate buying power and preferred-investor relationships to negotiate better lending terms and provide premium business services at reduced costs. Its mortgage productivity system additionally allows members to close more loans, satisfy continuing education requirements and market themselves more powerfully. For more information about membership, contact Tim Stern 866.728.5678 or visit http://www.lendersone.com
