Lenders One Adds Two Preferred Investors and Expands Product-Set Available from Flagstar Bank
August 4, 2015
Verus Mortgage Capital, ACH Trust and Flagstar Bank Provide a Variety of New Correspondent Lending Products for Lenders One Members
ST. LOUIS, August 4, 2015 – The Lenders One® Mortgage Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services, today announced that its cooperative members now have access to a diverse array of secondary mortgage market products from Verus Mortgage Capital, ACH Trust and Flagstar Bank’s Warehouse Division.
“The mortgage market thrives on access to differentiated products, and these new preferred investors offer our cooperative members a host of high quality lending options,” said Daniel Goldman, Interim Chief Executive Officer, Lenders One. “These companies have added to our growing lineup of diverse products and services backed by providers with deep expertise and resources.”
The new Lenders One preferred investors are available to support members in areas including conventional and government products, warehouse lending and non-QM loans:
ACH Trust - As the correspondent lending division of the Towne Mortgage Company, ACH Trust specializes in competitively priced government and conventional loans that can be managed through a suite of online tools that enable locking-in up-to-date mandatory and bulk pricing rates. ACH Trust purchases retail FNMA, FHLMC, FHA, VA and USDA loans with minimal overlays and manages all the draws on the 203K loans they purchase.
Verus Mortgage Capital - Provides members access to non-QM lending products designed to fill a credit void in today’s mortgage market. These programs are designed to address the issues limiting a borrowers’ access to credit through common sense underwriting. All of the loans underwritten and acquired by Verus are ATR compliant and focus on the borrowers' ability to repay.
Flagstar Bank - A current Lenders One preferred investor, Flagstar Bank now offers its Warehouse Lending service’s technology through a suite of digital tools for real-time reporting and paperless processing. Flagstar provides warehouse lines for a wide variety of investors.
LendersOne (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. Altisource’s proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics 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 altisource.com.