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Lenders One Opens Branch Locations at Select FL and NJ Walmarts

Lenders One Cooperative, a national alliance of independent mortgage bankers, banks, and credit unions, and managed by a subsidiary of Altisource Portfolio Solutions, has opened its first three mortgage lender in-store branch locations at select Walmart stores in Florida and New Jersey. This initial launch is part of Lenders One’s nationwide initiative to offer prospective homebuyers access to mortgage origination solutions where they shop within their community.

The first Walmart-based in-store branch Lenders One location is now open in Newton, New Jersey and is powered by Family First Funding. Founded in 2011 and based in Toms River, New Jersey, Family First Funding is a retail mortgage lender licensed to do business in 35 U.S. states and the District of Columbia.

Two additional Walmart-based in-store branch Lenders One locations will open within the next 30 days: an Orlando, Florida location powered by Family First Funding and a Boonton, New Jersey location powered by MLB Residential Lending, LLC. MLB is based in Springfield, New Jersey and serves the lending needs of homebuyers, homeowners, real estate professionals and builders.

The objective is for Lenders One members to offer a suite of mortgage solutions, including purchase, refinance, and home equity lines, to Walmart customers with a strong focus on consumer education, underserved markets, and affordable homeownership.

The Walmart branch in-store opportunity helps Lenders One members diversify their business model with retail foot traffic in geographical areas in which they may not normally have a presence. Walmart customers can enjoy the convenience of being able to apply for or inquire about borrowing options face-to-face with a personal touch, in the same place they do their regular shopping and receive other in-store services.

“Walmart has long been a trusted name for consumers, so seeing the branch in-store opportunity with Walmart come to fruition with Family First Funding and MLB Residential Lending is an exciting opportunity to connect lenders and borrowers at our first three locations in Florida and New Jersey,” said Justin Demola, CMB, President, Lenders One. “The physical in-store presence at Walmart helps Lenders One members connect with and educate the local community about opportunities to achieve the American Dream of homeownership. If the consumer does not qualify for a mortgage at first, our members can provide them with homebuyer education and resources to help them become mortgage ready in the future.”

The in-store branch grand openings at Walmart are a part of a nationwide pilot program announced in March 2022. Lenders One has been looking at strategic locations across the country to establish Lenders One member “store in store” branch locations to support the growth of members’ origination business. In addition to Florida and New Jersey, Lenders One plans to open other branch locations in Walmart stores in California, Ohio, South Carolina, and Texas.

About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.
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