The alliance is aimed at providing better access to top-quality mortgage products for a greater number of consumers, Freddie Mac said in its official statement last January 6.
“Freddie Mac is pleased to team up with Lenders One and help its members reach more eligible borrowers, achieve new efficiencies in the origination process and build strong, competitive businesses,” Freddie Mac senior vice president Chris Boyle said in the announcement, as quoted by DSNews.
Freddie Mac, which funds approximately 25 percent of residential mortgage policies based in the U.S., stated that Lenders One members who double as sellers/servicers of Freddie Mac would enjoy a broader range of mortgage products, a slew of pricing and execution benefits, and multiple opportunities for professional training and development.
Lenders One officials warmly welcomed the union.
“This relationship enables us to further support our members in growing originations and gives them additional opportunities to increase engagement in the increasingly dynamic housing market,” Lenders One interim CEO Daniel Goldman said.
In a bid to stimulate the mortgage industry this year, two major financiers—the Federal Home Loan Mortgage Corporation (also known as “Freddie Mac”) and the Lenders One Mortgage Cooperative—have joined forces earlier this month.