Company unveils lease deal with the consumer retail behemoth
Lenders One Cooperative, a retail lending subsidiary of Altisource, has announced that it is leasing space with Walmart to offer mortgage products and services.
In a statement released during the cooperative’s annual summit in Phoenix, Lenders One said that it now has three Walmart locations under lease with “many more opportunities to come.” The company will be offering purchase, refinance, and home equity products at its “store-in-store” branch locations.
Established in 2000, Lenders One has approximately 240 member companies, including independent mortgage bankers, banks, credit unions, correspondent lenders, and nonbank mortgage companies. According to the group, participants on its platform originated roughly $780 billion of loans in 2020.
“I could not be happier with the direction the cooperative is headed,” said Lenders One president Justin Demola. “I am proud of the work the team has done to get L1 Credit, LOLA and the Walmart opportunity across the finish line; we are already seeing the tremendous value these solutions are creating for our members. It is our mission to help members improve their profitability and better compete against larger, well-funded mortgage lenders. I am excited to release new and innovative solutions to accomplish that mission.”