ST. LOUIS--(BUSINESS WIRE)--Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, announced today that Franklin American Mortgage Company (FAMC) is its newest preferred investor. Based in Franklin, Tenn., FAMC is a national banking firm offering diverse, flexible mortgage options through retail, wholesale and correspondent channels.
Keith Mills, executive vice president of Franklin American Mortgage, explained, “Lenders One’s members represent the kind of mortgage bankers with whom we ideally want to do business. They hold themselves to high performance standards and strive to provide quality products and service to borrowers every day. Sharing the common goal of supporting homeownership, we anticipate our new partnership with the cooperative and its members to be mutually beneficial and have an overall positive impact on the housing economy.”
FAMC’s correspondent lending division was formed to serve the needs of any size lender across the country. The channel provides quality, conservative agency products and services to assist smaller institutions compete in an increasingly tight market. As its newest investor partner, Lenders One can extend FAMC’s key delivery options and robust technology to cooperative members for loan funding and underwriting. Being FHA direct endorsed, VA automatic, an LAPP authority and a Fannie Mae, Freddie Mac and Ginnie Mae approved seller/servicer, FAMC will support Lenders One members with a variety of loans through its correspondent platform.
“Franklin American Mortgage is a natural complement to our current stable of preferred investors,” said Scott Stern, CEO of Lenders One. “Franklin American Mortgage stands for responsibility and trust, two characteristics our members covet in their choice for correspondent lending partners. As a result of its status as a preferred investor, FAMC will have access to our membership base of premier mortgage bankers while our members will have access to special terms from FAMC due to the collective buying power of Lenders One.”
About Franklin American Mortgage Company
Franklin American Mortgage is recognized as one of the fastest growing mortgage companies in the country. Committed to providing consistent service and support, FAMC is quickly becoming the preferred lender of choice for mortgage professionals throughout the industry. For more information about the company and its services, please go to www.franklinamerican.com.
About Lenders One Mortgage Cooperative
Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Based in St. Louis, with more than 180 members originating $90 billion in mortgage loans for 2010, the Lenders One alliance ranks as one of the largest retail mortgage originator in the U.S. Its mortgage productivity system additionally allows members to close more loans, satisfy continuing education requirements and market themselves more powerfully. Lenders One is a subsidiary of Altisource Portfolio Solutions S.A. (NASDAQ: ASPS).
About Altisource™
Altisource Portfolio Solutions S.A. (Nasdaq:ASPS) is a provider of services focused on high value, technology-enabled, knowledge-based functions principally related to mortgage and real estate portfolio management, asset recovery and customer relationship management. Additional information is available at www.Altisource.com.