Cenlar Offers Subservicing to Lenders One Members
The Lenders One Mortgage Cooperative entered into a partnership with subservicing firm Cenlar that will allow its members to maintain servicing rights on loans they originate. Ewing, NJ-based Cenlar is a wholesale bank that operates in all 50 states in the US. Under the partnership, Cenlar will provide Lenders One members with customized subservicing for a wide variety of mortgage products, all private-labeled under each lender’s name and logo, Lenders One said. “Loan servicing is quickly emerging as a trend — as well as necessary business component — for independent mortgage bankers, and we want our members to be on its forefront,” said Lenders One CEO Scott Stern. “Partnering with Cenlar benefits our members with timely, scalable term and interim mortgage servicing. These benefits are then translated to borrowers in the form of a more diverse, quality loan offering.” Lenders One is a St. Louis-based national cooperative of small and community lenders. Write to Austin Kilgore.