Lenders One Cooperative sells mortgage products in Walmart stores

Mortgage company Lenders One Cooperative has reached an agreement to lease retail space at walmart stores and sell mortgage products and services.

Lenders One will sell purchase, refinance and home equity products through its “store-to-store” branches. Similar to Walmart, Costco has a partnership with Ohio-based retail lender CrossCountry Mortgage, which in 2020 acquired First Choice Loan Services, Costco’s mortgage program provider.

Founded in 2000, Lenders One Cooperative has a network of over 240 independent mortgage bankers, banks, credit unions, correspondent lenders and providers of mortgage products and services. The platform is operated by a subsidiary of Altisource Portfolio Solutions, a service provider and marketplace for the real estate and mortgage lending industries.

Members of the cooperative cover the entire lending spectrum, ranging from USD 50 million to USD 25 billion per year. Collectively, their origination volume reached around $780 billion in 2020, according to the cooperative.

The co-op has also launched a comprehensive Credit Bureau (CRA), which will offer its members a comprehensive tri-merger credit report, fraud reports, undisclosed debt notifications, employment verification and assets, and other services. Another initiative is a cloud-based technology called Lenders One Loan Automation (LOLA), launched to automate the loan manufacturing process.

Comments are closed.