Lenders One, PHH Mortgage Announce Preferred Investor Relationship

Posted by Orb Staff on July 01, 2010 No Comments
Categories : Residential Mortgage

s One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, has added PHH Mortgage Corp., a subsidiary of PHH Corp., as a preferred investor. This relationship provides Lenders One members direct access to PHH Mortgage underwriters; 24/7 online access to products, rates and pricing scenarios; the ability to upload documents electronically; and ongoing training for governmental compliance and other regulatory requirements, Lenders One explains. PHH Mortgage will benefit from the preferred investor relationship with Lenders One, specifically through the exposure to more than 165 of its members and from the new, incremental loan volume PHH Mortgage will purchase from those members, the companies add. ‘PHH Mortgage will support Lenders One's members with a correspondent lending platform for conventional, government-insured loan products and rural development loans,’ explains Craig Dodds, vice president of wholesale correspondent lending at PHH Mortgage. ‘Members value our cooperative business model in that it enables them to leverage the organization's collective economies of scale and have access to the resources that help them remain competitive in any market cycle,’ adds Scott Stern, Lenders One CEO. SOURCES: [link=http://www.lendersone.com]Lenders One[/link], [link=www.phhmortgagesolutions.com]PHH Mortgage

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