EL PASO, Texas, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Lenders One® Cooperative, a national alliance of independent mortgage bankers, banks and credit unions, and managed by a subsidiary of Altisource Portfolio Solutions S.A., announces the grand opening of its first three mortgage lender in-store branch locations at select Walmart stores in Florida and New Jersey. This initial launch is part of Lenders One’s nationwide initiative to offer prospective homebuyers access to mortgage origination solutions where they shop within their community.
The first Walmart-based in-store branch Lenders One location opened today in Newton, NJ and is powered by Family First Funding, LLC. Founded in 2011 and based in Toms River, New Jersey, Family First Funding is a retail mortgage lender licensed to do business in 35 U.S. states and the District of Columbia. Family First Funding offers high quality mortgage banking services to residential and business customers, with an aim to provide clients with fair and reasonable rates and costs, while keeping their clients informed and educated throughout the process.
Two additional Walmart-based in-store branch Lenders One locations will open within the next 30 days: an Orlando, FL location powered by Family First Funding and a Boonton, NJ location powered by MLB Residential Lending, LLC. MLB Residential Lending is based in Springfield, NJ and serves the lending needs of homebuyers, homeowners, real estate professionals and builders. Its staff is passionate about assisting others in fulfilling the American Dream of homeownership, making the process as simple as possible.
The objective is for Lenders One members to offer a suite of mortgage solutions, including purchase, refinance and home equity lines, to Walmart customers with a strong focus on consumer education, underserved markets and affordable homeownership.
The Walmart branch in-store opportunity helps Lenders One members diversify their business model with retail foot traffic in geographical areas in which they may not normally have a presence. Walmart customers can enjoy the convenience of being able to apply for or inquire about borrowing options face-to-face with a personal touch, in the same place they do their regular shopping and receive other in-store services.
“Walmart has long been a trusted name for consumers, so seeing the branch in-store opportunity with Walmart come to fruition with Family First Funding and MLB Residential Lending is an exciting opportunity to connect lenders and borrowers at our first three locations in Florida and New Jersey,” said Justin Demola, CMB, President, Lenders One. “The physical in-store presence at Walmart helps Lenders One members connect with and educate the local community about opportunities to achieve the American Dream of homeownership. If the consumer does not qualify for a mortgage at first, our members can provide them with homebuyer education and resources to help them become mortgage ready in the future.”
The in-store branch grand openings at Walmart are a part of a nationwide pilot program announced in March 2022. Lenders One has been looking at strategic locations across the country to establish Lenders One member “store in store” branch locations to support the growth of members’ origination business. In addition to Florida and New Jersey, Lenders One plans to open other branch locations in Walmart stores in California, Ohio, South Carolina and Texas.
About Lenders One Cooperative
Established in 2000, Lenders One Cooperative is a national alliance of 250+ mortgage bankers and a network of innovative proprietary solutions, technology, and 90+ solutions providers and capital markets providers, committed to propelling profitability, efficiency and connections for its members. Lenders One is dedicated to helping independent mortgage bankers, banks and credit unions compete in the market, improve their profitability and reduce loan manufacturing costs. Participants on the Lenders One platform originated greater than $700 billion of mortgages during 2021, collectively ranking as the largest retail mortgage entity in the U.S. Lenders One is managed by a subsidiary of Altisource Portfolio Solutions S.A. Visit www.lendersone.com for learn more.
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. Additional information is available at altisource.com.
Source: Altisource Portfolio Solutions S.A.
Michelle D. Esterman
Chief Financial Officer
Justin Demola, CMB
President, Lenders One