The Mortgage Collaborative, an independent lending cooperative serving small and midsize lenders and community-based lending institutions, has added seven new lenders to its national network of originating members.
The announcement was made by the collaborative's executive vice president of national sales and strategic alliances, Rich Swerbinsky.
‘The addition of this group of growing independent mortgage bankers and best-in-class community banks strengthens the collective origination volume and diversifies the expertise of our member network, positioning us to better help small to midsize lenders compete,’ says Swerbinsky.
The new member companies are as follows:
- American Mortgage Service Co. – Cincinnati;
- First Commonwealth Bank – Indiana, Penn.;
- FirstBank – Franklin, Tenn.;
- Independent Mortgage – Newtown, Mass.;
- MegaStar Financial Corp. – Denver;
- Norcom Mortgage – Avon, Conn.; and
- Northpointe Bank – Grand Rapids, Mich.
With the addition of these companies, The Mortgage Collaborative's aggregate origination volume now tops $62 billion annually. In the past five months, The Collaborative has more than quadrupled its number of originating lender members and has added 22 new vendor partners.