Lenders One Member Doubles as Newest Preferred Investor

* Reuters is not responsible for the content in this press release.

Tue Jul 7, 2009 8:00am EDT

National lender buying from other cooperative members for improved secondary
market sales
ST. LOUIS--(Business Wire)--
Lenders One Mortgage Cooperative, a national alliance of mortgage bankers,
announced that one of its own members will become the cooperative`s newest
preferred investor. Wintrust Mortgage Corporation, part of the Illinois-based
holding company Wintrust Financial Corporation (NASDAQ: WTFC), is a national
lender involved in retail, wholesale and correspondent lending that is now
positioned to buy loans from other Lenders One members. 

"The surge in refinancings has left many lenders searching for more options to
help them maintain large loan volumes," Scott Stern, Lenders One CEO, explained.
"Our investor partners, such as Wintrust, are providing cooperative members with
the quick funding and aggressive pricing they need to serve their communities
and competitively continue business operations." 

Wintrust Mortgage is a federally chartered bank and full service correspondent
lender that offers FHA, VA and conventional loan products. Through this new
relationship, Lenders One members will earn pricing incentives across agency,
government and jumbo fixed rate products, and be offered best effort delivery in
execution strategies. Wintrust ensures a 72-hour turnaround on funding,
accompanied by a 48-hour review, which is critical now with high volumes and
warehouse line capacity issues. 

Valerie Moavero, Wintrust Mortgage`s vice president and corresponding lending
manager, explained, "The transition to becoming a preferred investor of Lenders
One brings opportunity for us to coordinate our efforts with the cooperative`s
sales team to work with the best mortgage bankers there are. So not only does
Wintrust benefit as a member of Lenders One, we also benefit as a preferred
investor." 

Wintrust Mortgage`s latest technology enables Lenders One members to view loan
and pipeline status in real time. Automatic e-mail triggers are sent that signal
any and all updates as the loan file makes its way through the funding process.
The company also provides real-time online product pricing. 

About Lenders One Mortgage Cooperative

Lenders One is a national alliance of mortgage bankers which was established in
2000 and is based in St. Louis. With more than 125 members originating $40
billion in mortgage loans annually, the Lenders One alliance ranks as the ninth
largest mortgage originator in the U.S. Lenders One leverages its aggregate
buying power and preferred-investor relationships to negotiate better lending
terms and provide premium business services at reduced costs. Its mortgage
productivity system additionally allows members to close more loans, satisfy
continuing education requirements and market themselves more powerfully. For
more information about membership, contact Tim Stern 866.728.5678 or visit
www.lendersone.com. 

About Wintrust Mortgage Corporation

Wintrust Mortgage, a subsidiary of Barrington Bank & Trust Co., N.A., engages
primarily in the origination and purchase of residential mortgages for sale into
the secondary market. Loans are made via principal origination offices and also
originated in other states through wholesale and correspondent offices. Wintrust
Mortgage`s operations are conducted out of its offices maintained in Oakbrook
Terrace, Ill. Wintrust Mortgage has been in the mortgage lending business since
1978. 





For Lenders One
Media Contacts
Charlyne H. McWilliams/Megan Ard
301-933-5567/678-781-7223 

Copyright Business Wire 2009

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.