Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, announced that Walnut Creek, Calif.-based Pacific Union Financial LLC is its newest preferred investor. Pacific Union Financial is a national mortgage banking company that originates and aggregates residential mortgages by funding and purchasing loans through its retail, wholesale and correspondent channels.
“Our members expect us to provide them access to the most relevant partnership opportunities as the secondary market evolves, and aligning with Pacific Union Financial is one of those highly valued relationships,” said Scott Stern, CEO of Lenders One. “We look forward to building a mutually beneficial relationship with Pacific Union Financial, one that is based on our common goal of promoting a mortgage process of integrity and trust.”
Partnering with Pacific Union can enable Lenders One members to expand and build their product line, capture more purchase market share and compete with the larger aggregators. Pacific Union will support both retail and wholesale platforms for Lenders One members, and provide the flexibility for members to develop their own product mix.
As a result of its preferred investor status, Pacific Union Financial will have direct access to a Lenders One membership base of premier mortgage bankers across the country.“This new relationship with Lenders One enables us to expand our reach in providing diversified services to mortgage originators and to enhance our impact on the housing economy,” said Evan Stone, president, Pacific Union Financial LLC. Lenders One’s network of preferred secondary market investors provides members with superior loan pricing and other benefits ranging from product specials to service enhancements. About Lenders One Mortgage Cooperative Lenders One ( www.LendersOne.com) was established in 2000 as a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Based in St. Louis, with more than 180 members originating $90 billion in mortgage loans for 2010, the Lenders One alliance ranks as one of the largest retail mortgage originators 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). 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.