Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services, has extended its contract with Fannie Mae as a preferred investor.
Continuing this relationship ensures that cooperative members selling to the government-sponsored enterprise (GSE) can gain access to more competitive pricing and technology as compared to working with Fannie Mae independently, Lenders One explains.
‘Lenders One fosters several preferred investor relationships, such as this one with Fannie Mae, to improve members' secondary market performance,’ says Scott Stern, Lenders One CEO.
This relationship provides Lenders One members with quick funding and superior secondary market execution, the cooperative says. Fannie Mae, meanwhile, is able to better penetrate the market through direct contact with the cooperative's members, as well as minimize the costs associated with originating that production.
Fannie Mae has been working with Lenders One for eight years, and is the only GSE in its network of preferred investors.
SOURCE: Lenders One Mortgage Cooperative