Lenders One Sponsors Legislative Summit for Members

Business Wire,  June 2, 2008  

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National Mortgage Cooperative Gives Members Audience with Congressional Representatives

ST. LOUIS -- During a time of unprecedented challenges in the mortgage industry, Lenders One Mortgage Cooperative, a national alliance of mortgage bankers, recently sponsored the Second Annual Lenders One Legislative Summit in Washington, D.C. The summit provided an opportunity for the members of Lenders One to have a positive effect on pending mortgage-industry legislation. The Lenders One Legislative Summit included more than 40 Lenders One members, who met with policy makers and congressional members on issues critical to the mortgage industry.

In addition to helping members arrange meetings with congressmen and senators from their respective states, Lenders One welcomed guest speakers from Fannie Mae, Freddie Mac and the Department of Housing and Urban Development (HUD) to share their opinions on the state of the industry. The group was given details on the re-emergence of FHA and received an economic outlook from experts at Fannie Mae and Freddie Mac.

Lenders also heard a political overview from Paul Begala, CNN Commentator and a former aide to President Bill Clinton, who discussed how the upcoming presidential election might affect the mortgage industry.

"This was a very important opportunity for us to be in the nation's capital to hear first hand from policymakers," said Scott Stern, CEO of Lenders One. "It enabled us to share our mortgage experiences with our representatives and let them know that the mortgage industry is not all gloom and doom. We also spoke to lawmakers about pending legislation and discussed how legislative changes will affect the mortgage industry and home ownership nationwide. Simply put, our legislators appreciated the opportunity to speak with mortgage lenders who work in their districts and provide mortgage services to their constituents."

About Lenders One

Lenders One is a national alliance of mortgage bankers which was established in 2000 and is based in St. Louis, Mo. With more than 110 members originating $40 billion in mortgage loans annually, the Lenders One alliance ranks as the ninth largest mortgage originator in the United States. Lenders One leverages its aggregate buying power and preferred-investor relationships to negotiate better lending terms, provide premium business services at reduced costs. Lenders One implemented for its members, LOANMax, a system that has three predominant features to help loan officers close more loans, satisfy continuing education requirements and market themselves more powerfully. For more information about membership, contact Tim Stern 866.728.5678 or visit www.lendersone.com.

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