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Coop Member Doubles as Investor

Coop Member Doubles as InvestorWintrust an investor for, member of Lenders One

July 7, 2009

By staff

Wintrust Mortgage Corp. is not just an investor for Lenders One Mortgage Cooperative — it’s a member. The dual role has created opportunities for other members.

A news release today from Lenders One indicated that Wintrust is buying loans from other members of the St. Louis-based cooperative.

Wintrust, based in Oakbrook Terrace, Ill., says it is a federally chartered bank that operates as a full-service correspondent lender with FHA, VA and conventional loan products. It also originates through a wholesale and a retail channel.

Scott Stern, chief executive officer of Lenders One, said in the statement that Wintrust is among multiple investor partners that provide its more than 125 members “quick funding and aggressive pricing.”

The news release indicated Lenders One members will earn price incentives for agency, government and jumbo loans originated for Wintrust — a subsidiary of Barrington Bank & Trust Co., N.A.

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