Federal Home Loan Mortgage Corp (OTCBB:FMCC) reported an association with The Mortgage Collaborative, an autonomous mortgage lending unit, designed to assist its members create better businesses and participate more effectively in present dynamic mortgage industry. The new association was reported at the ‘Mortgage Bankers Associations’ Annual Convention and Expo.
As part of the deal, Federal Home will offer The Mortgage Collaborative’s participants that are Freddie Mac Servicers/sellers with access to staff training opportunities, execution benefits, critical mortgage products, and other offerings planned to make it easier to invent and supply premium mortgages to Federal Home. Based in San Diego, the Collaborative is an autonomous group of community-based lenders. The members represent over $60 billion dollars in yearly originations and have presence in most major industries throughout the nation.
The expert comments
Chris Boyle of Federal Home Loan Mortgage Corp (OTCBB:FMCC) said that doing more business with mid-sized and small banks is of utmost importance for them. So, they are thrilled to associate with The Mortgage Collaborative and offer its members with the focused support, products and solutions required to succeed in present competitive mortgage industry. He looks forward to functioning with the members and leadership of The Mortgage Collaborative to accomplish the shared objective of making responsible, affordable homeownership a reality for U.S.
Jim Park, the CEO of The Mortgage Collaborative, stated that TMC and associated network of mid-sized and small mortgage lenders are thrilled to alliance with Federal Home to help their members participate more effectively in current emerging mortgage industry.
A vibrant secondary industry supported by a robust network of autonomous mortgage originators is important for robust U.S. housing market and will help boost sustainable homeownership for increased number of families throughout the nation. The Mortgage Collaborative was established in 2013 to support mortgage lenders across the nation.