Lenders One Companies Originated $21.2B In Q2

Posted by Orb Staff on August 04, 2009 No Comments
Categories : Residential Mortgage

uis-based [link=http://www.lendersone.com][u]Lenders One Mortgage Cooperative[/u][/link], a national alliance of independent mortgage bankers, reports that its member companies originated $21.2 billion in loans in the second quarter, surpassing the first-quarter volume of $17.3 billion. Broken down regionally, new and existing members in the Western states originated $7.9 billion of the recent quarter's total volume. Midwest lenders followed with $7.6 billion, and East Coast member companies recorded $5.7 billion in production. "Heavy refinance volumes, coupled with low interest rates and the dedication of our members, have all contributed to this continued success," says Scott Stern, CEO of Lenders One. "These factors were complemented by our collective buying power that creates revenue-enhancing, cost-saving and market-share expanding opportunities for all members." Federal Housing Administration loans accounted for 43%, or $9 billion, of Lenders One's second-quarter originations. Conventional products made up 52%, or $11 billion, and jumbo loans rounded out the remaining 5%. SOURCE: [link=http://www.lendersone.com]Lenders One Mortgage Cooperative

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