Freddie Mac announced a partnership with The Mortgage Collaborative, an independent mortgage lending network of small, mid-sized and community-based lenders, that will help the group’s members build better businesses and compete more effectively in today's dynamic mortgage market, Freddie Mac said in a release.
The new alliance was announced in San Diego at the Mortgage Bankers Association’s 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.
“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,” Chris Boyle, senior vice president of single family sales and relationship management at Freddie Mac, said.
“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 are working families,” Boyle added.
“The Mortgage Collaborative 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,” Jim Park, the Mortgage Collaborative’s chief executive officer, said.
“A vibrant secondary market supported by a strong network of independent mortgage originators is critical to a strong U.S. housing market and will help support sustainable homeownership for more families throughout the country,” Park concluded