Lenders One® Adds Flagstar Bank as a Preferred Investor
May 21, 2015
Top 10 Mortgage Originator Flagstar Will Offer its Full Suite of Products to Lenders One Members
ST. LOUIS, May 12, 2015 – The Lenders One® Mortgage Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services, today announced Flagstar Bank as a new preferred investor with its full suite of products now available to Lenders One Members. Flagstar’s mortgage products are designed for a wide range of borrowers including jumbo, renovation and rural mortgage products.
With more than 1,300 correspondents and brokers as partners, Flagstar is a top 10 mortgage originator, top 10 warehouse lender and a top five Federal Housing Administration lender. As reported by mortgagestats.com, Flagstar was the #5 Correspondent by volume in the US Market in 2013 and 2014*. Chartered in 1987 as a federal savings bank, Michigan-based Flagstar provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as through 16 retail centers in 11 states.
“With Flagstar Bank we are able to bring to the Lenders One Members one of the most trusted correspondent investors in the market today,” said Jeff McGuiness, Chief Executive Officer of Lenders One. “Flagstar’s focus on superior customer experience and strong industry presence give our Lenders One Members a quality provider on which they can depend.”
“As one of the largest mortgage platforms in the country, Lenders One is an incredible partner for Flagstar as we deliver our expertise and resources to its members,” said Brian Vieaux, Senior Vice President and National Sales Director for Wholesale Lending at Flagstar. “The mortgage industry requires high-quality, differentiated products to meet customer needs, and now we’re able to provide these offerings to Lenders One Members.”
Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the St. Louis-based platform originated $200 billion in mortgages in 2014; collectively ranking as one of the largest retail mortgage origination entities in the U.S. Lenders One, more than 280 lender members strong, is managed by a subsidiary of Altisource Portfolio Solutions, S.A.
Altisource Portfolio Solutions S.A. is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries offering both distribution and content. Altisource leverages proprietary business process, vendor and electronic payment management software and behavioral science based analytics to improve outcomes for marketplace participants. Altisource has been named to Fortune’s fastest growing global companies two years in a row. Additional information is available at www.Altisource.com.
About Flagstar Bank®
Flagstar Bancorp, Inc. (NYSE: FBC) is a $11.6 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, the largest bank headquartered in Michigan, provides commercial, small business, and consumer banking services through 107 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as through 16 retail centers in 11 states. Flagstar is the ninth largest national originator of mortgage loans and a top 20 mortgage servicer, handling payments and recordkeeping for over $75 billion of home loans for nearly 385,000 borrowers. For more information, please visit flagstar.com.
* 2014 Volume is as reported by Mortgagestats.com YTD through Q3 2014.