Industry News

Co-op real estate loan alliance debuts

Lenders affiliated with independent real estate cos. team up

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A new cooperative alliance between ten mortgage lenders affiliated with independent real estate companies has just formed, the companies announced today. The organization – the Strategic Alliance of Mortgage Subsidiaries – is the first of its kind intended to meet the unique marketing needs of real estate company-affiliated mortgage lenders, the companies claimed. The Alliance will leverage the collective marketing clout and economies of scale of real estate company-related mortgage lenders in bargaining with secondary market, mortgage origination giants, and mortgage and real estate services vendors to maximize mutually beneficial pricing and services, the group said. The Strategic Alliance of Mortgage Subsidiaries is a business cooperative with a membership that is uniquely homogeneous in size, marketing strategies, lending products and secondary market executions, the companies said. The cooperative's members will use their combined influence to negotiate with sec...