The FINANCIAL — Freddie Mac on October 20 announced an alliance with The Mortgage Collaborative, an independent mortgage lending cooperative, designed to help its members build better businesses and compete more effectively in today’s dynamic mortgage market. The new alliance was announced in San Diego at the Mortgage Bankers Associations 102nd Annual Convention and Expo.
As part of the agreement, Freddie Mac will provide The Mortgage Collaborative’s members that are Freddie Mac Seller/Servicers with access to critical mortgage products, execution benefits, staff training opportunities, and other services designed to make it easier to originate and deliver high quality mortgages to Freddie Mac.
Based in San Diego, The Mortgage Collaborative is an independent network of small, mid-sized and community-based lenders. The cooperative members already represent more than $60 billion dollars in annual originations and have footprints in most major markets throughout the country, according to Freddie Mac.
Chris Boyle, Senior Vice President of Single Family Sales and Relationship Management at Freddie Mac said, “Doing more business with small and mid-sized banks is a priority for us so we’re excited to join forces with The Mortgage Collaborative and provide its members with the products, solutions and the focused support needed to succeed in today’s competitive mortgage market. I look forward to working with the leadership and members of The Mortgage Collaborative to achieve our shared goal of making affordable, responsible homeownership a reality for America’s working families.”
Jim Park, CEO of The Mortgage Collaborative, said, “TMC and its network of small and mid-sized mortgage lenders are excited to partner with Freddie Mac to help our members compete more effectively in today’s evolving mortgage market. A vibrant secondary market supported by a strong network of independent mortgage originators is critical to a strong US housing market and will help support sustainable homeownership for more families throughout the country.”