Mortgage Banker Alliance Reports Record Loan Volume for 2013

Member companies of Lenders One Mortgage Cooperative achieved a new record in loan volume throughout 2013, the group reported this week.

According to a release, the cooperative—a national alliance of community mortgage bankers, correspondent lenders, and suppliers of mortgage products and services—collectively originated $224 billion in volume last year, a 22 percent increase over 2012.

The total represents nearly 14 percent of the country’s overall origination volume in 2013.

“Despite the market correction that began last summer, our members continue to see market share increases,” said Jeff McGuiness, CEO of Lenders One, which operates out of St. Louis. “The lenders that planned for change are successfully navigating the purchase market and adapting to the new regulations, while protecting their margins.”

Lenders One also attributes part of last year’s success to members’ access to multiple preferred investor relationships, which added six more companies over the year.

Whatever the cause, McGuiness affirmed that going forward, Lenders One will remain committed “to using the collective negotiating power of the cooperative to deliver the resources and benefits that help our members continue to succeed, regardless of market cycle.”