Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, has challenged its member companies to originate $3 billion in loans during a 30-day period. Management at Lenders One believes that the $3 billion loan origination challenge will help stimulate the economy.
Although mortgage market volumes continue to decline, the company says it is confident that making consumers aware of available loan products and refinancing options is key to increasing loan performance.
Lenders One plans to accomplish its goal by originating a wide variety of loans including, conventional, Federal Housing Administration, Department of Veterans Affairs, jumbo and specialty loans as well as purchase, refinance and new construction loans. The membership will meet the challenges by originating loans in most, if not all, 50 states. Members are encouraged to use the tools available through Lenders One's exclusive LOANMax selling system to meet the $3 billion originations challenge.