Walmart

Lenders One Cooperative has announced the opening of its first three mortgage lender in-store branch locations at select Walmart stores in Florida and New Jersey.

The cooperative is a national alliance of independent mortgage bankers, banks and credit unions and managed by a subsidiary of Altisource Portfolio Solutions SA. The initial launch is part of Lender One’s nationwide initiative to offer prospective homebuyers access to mortgage origination solutions where they shop within their community, company officials explained.

Mortgage Professional America spoke to Justin Demola (pictured), CMB and president of Lenders One, to secure more details about the arrangement. “There really is no other big-box mortgage opportunity other than Walmart today,” Demola said during a telephone interview. “Costco closed their program down, Amazon never launched anything. Walmart is the only opportunity of its kind in the industry currently.”

Continue Reading On MPA Mag

In March, Lenders One Cooperative announced it will lease space at select Walmart stores so homebuyers can access mortgage origination solutions where they shop in their community. On Friday, the lending cooperative announced the grand opening of its first three mortgage lender in-store branch locations at Walmart stores in New Jersey and Florida.

The first in-store branch Lenders One location opened Oct. 7 in Newton, N.J., and is powered by Family First Funding LLC. Founded in 2011 and based in Toms River, N.J., Family First Funding is a retail mortgage lender licensed to do business in 35 U.S. states and the District of Columbia. It offers solutions to residential and business customers, with a mission to provide clients with fair and reasonable rates and costs, as well as educating their clients throughout the process, the company said.

Another two in-store locations will open in the next 30 days — in Orlando, Fla., powered by Family First Funding, and in Boonton, N.J., powered by MLB Residential Lending LLC. MLB Residential Lending is based in Springfield, N.J., and serves the lending needs of homebuyers, homeowners, real estate professionals, and builders, it said.

Continue Reading On National Mortgage Professional