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Lenders One Fundings Nearly Double

Lenders One Fundings Nearly Double$17.3 billion Q1 originations

June 30, 2009

By MortgageDaily.com staff

If members of Lenders One Mortgage Cooperative were one company, they would have ranked as the No. 5 residential lender in the country.Aggregate originations at the St. Louis-based organization climbed to $17.3 billion during the first quarter, Lenders One Chief Executive Officer Scott Stern reported in a statement to MortgageDaily.com.

Loan production soared from $9.2 billion in the fourth quarter. A year earlier, Lenders One closed just $7.6 billion.

“We had a great first quarter,” Stern commented.

Based on quarterly earnings data analyzed by MortgageDaily.com, collective production by Lenders One members was higher than No. 5 SunTrust Banks Inc., which reported $13.4 billion in production.

Lenders One reported 142 active members as of Dec. 31, 2008. Stern noted that a record 12 new members were added during the first quarter.


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