""Lenders One Mortgage Cooperative"":http://www.lendersone.com, a national alliance of mortgage bankers headquartered in St. Louis, Missouri, announced on Monday that it has renewed its contract with ""Fannie Mae"":http://www.fanniemae.com as a preferred investor. The organization explained that extending this relationship ensures its members who sell to the GSE gain access to more competitive pricing and technology as compared to dealing with Fannie Mae independently.
Fannie Mae has been working with Lenders One for seven years and is the only GSE in the organization's network of preferred investors. According to Lenders One, the partnership provides several key advantages to its members, including quick funding, preferred pricing, priority service, and additional investor program benefits. The organization explained that Fannie Mae also benefits from the alliance, specifically in being able to expand its market share with the cooperative’s members and minimize the costs associated with originating that production.
Lenders One CEO Scott Stern called the relationship a true win-win for both Fannie Mae and Lenders One. ""We cultivate our preferred investor relationships so that everyone benefits,"" he said. ""Based on our recent contract renewal, our members will enjoy superior secondary market execution, while Fannie Mae can buy high-quality loans from high-quality lenders from across the country. As our delivery to Fannie Mae is currently at an all-time high, this contract extension comes at a fortuitous time for both parties.""
Lenders One was established in 2000 and now has more than 140 mortgage banker members originating $40 billion in mortgage loans annually, making the alliance the ninth largest mortgage originator in the United States.