Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, announced its contract renewal with preferred investor Mortgage Services III, LLC (MSI). MSI is a majority owned subsidiary of First State Bank of Mendota, Ill.
“MSI understands firsthand the challenges that smaller community-based lenders encounter in order to remain competitive during a time when differentiation and quality are key,” said Scott Stern, Lenders One CEO. “We are proud to renew our partnership because management at MSI recognizes the need to deliver high-level customer service, which translates into a strong relationship for our members and a reliable outlet through which to conduct substantial business.”
The partnership continues to offer Lenders One members direct access to a funding source as well as special pricing for all of their loans. In turn, MSI receives immediate networking abilities and opportunities to grow its portfolio with Lenders One’s national group of community mortgage bankers.
“Aligning with Lenders One gives us a solid connection to many of the more widely recognized, well respected community mortgage bankers in the United States,” said Todd Carlson, senior vice president of correspondent lending for MSI. “Our relationship with the cooperative and the exposure it offers to this market segment is crucial to our correspondent division’s early development. The ongoing marketing support provided by the Lenders One team to ensure this is a mutually beneficial venture is extremely valuable, and we look forward to it generating continued growth among members.”About Mortgage Services III, LLC Mortgage Services III, LLC (MSI) is a majority owned subsidiary of First State Bank. The staff has countless years of experience and knowledge of the mortgage industry. As a full service mortgage lender, MSI specializes in a number of different loan programs from conventional fixed loans, FHA loans to adjustable rate mortgages (ARMs). The company is based in Bloomington, Ill. For more information, please visit www.msiloans.biz. About Lenders One Mortgage Cooperative Lenders One is a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. The cooperative was established in 2000 and is based in St. Louis. With more than 150 members originating $77 billion in mortgage loans for 2009, the Lenders One alliance ranks as the third largest retail mortgage originator in the U.S. Its mortgage productivity system additionally allows members to close more loans, satisfy continuing education requirements and market themselves more powerfully. Lenders One is a subsidiary of Altisource Portfolio Solutions S.A. (NASDAQ: ASPS). For more information about membership, contact Tim Stern 866.728.5678 or visit www.lendersone.com. About Altisource™ Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) is a provider of services focused on high value, technology-enabled, knowledge-based functions principally related to mortgage and real estate portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com.