TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1345021
4 | M R EP O RT MTECH 20 Years of Strategic Growth LENDERS ONE MARKS ITS ANNIVERSARY WITH A JUMP IN ECLOSINGS. L enders One Coopera- tive, a national alliance of independent mortgage bankers, celebrated its 20th an- niversary in 2020. The coopera- tive reported significant growth with the addition of 26 members and the development of new programs to help its members become even more profitable. Some highlights for the year included: • L1 Flood surpassed one million transactions • A 3,600% increase in eClosing activity with more than 12,000 loans closed and 5,000 eNote transactions since Q2 • Launched the L1 Verifications program with over 50 members using it and growing • Over 20 members have joined the L1 Data Program, which was introduced in January, that provides monthly peer bench- marking for participants by ag- gregating and anonymizing data from the cooperative's large and diverse group of members • The National Association of Minority Mortgage Bankers of America (NAMMBA), Rewire, Inc., Top of Mind, and Absolute Logic joined the National Programs platform • PollyEx, Spring EQ , TIAA Bank, and First National Bank of America (FNBA) were added to the Capital Markets platform Further strengthening the cooperative, Lenders One ® hosted several thought provoking and successful live and virtual events throughout the year: • The live Annual Summit took place in Miami March 1-4 with a standout number of attendees from across the Cooperative • One live and six virtual Advisory Council meetings discussed vital Lenders One matters • Four webinars presented pandemic-related challenges and solutions to the industry • Two virtual Executive Roundtables responding to pandemic concerns • First all-day virtual Basecamp with educational sessions and networking • A monthly Virtual Summit Series ran August to December • The Annual Meeting was held virtually in December Four new individuals were added to the Lenders One Advisory Council: Christina Brown, CMB, Chief Lending Officer of Atlantic Bay Mortgage Group; Alvin Shah, Managing Partner of First Option Mortgage; Taylor Stork, COO of Developer's Mortgage Company; and Matthew VanFossen, CEO of Absolute Home Mortgage Corp. In addition, Jon Gwin, COO of American Financial, Inc., was added to the Lenders One Board of Directors. Ahead of the Pack A look at the companies that are gaining accolades for their innovative business strategies.