""Pacific Union Financial LLC"":http://www.pacuniondirect.com/ is the latest preferred investor with ""Lenders One Mortgage Cooperative"":http://www.lendersone.com/. Through the partnership, Lenders One members will be able to expand their products lines in order to take on competitive aggregators.[IMAGE]
Lenders One, a national alliance of community mortgage bankers, product suppliers, and correspondent lenders, will gain support from Pacific Union for both its retail and wholesale platforms. Pacific Union's national presence will also help build better market share for Lender One's clients and create added flexibility for members looking to develop their own product mix.
Pacific Union, an originator and aggregator of residential mortgages via funding and purchase agreements, will avail itself of Lender One's nationwide database of mortgage bankers, thanks to the company's status as a preferred investor.
Scott Stern, CEO of Lender One, said of the deal, ""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. 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.""
Echoing Stern's positive sentiments, Pacific Union's president stated, ""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.""
Based in St. Louis, Missouri, Lenders One is a subsidiary of ""Alitsource Portfolio Solutions S.A."":http://www.altisource.com/ Lenders One's alliance of mortgage professionals was established in 2000 and now boasts more than 180 members, who were responsible for $90 billion in loans during 2010. Altisource, the entity's parent company, is known for its provision of technology and data initiatives for mortgage and real estate portfolio management, as well as asset recovery and customer processing.