SAN DIEGO, Calif. /California Newswire/ — Today The Mortgage Collaborative (TMC), an independent lending cooperative serving small and mid-sized mortgage lenders and community-based lending institutions, and Fannie Mae agreed upon enhancements to the benefits offered to TMC members that were announced earlier in the year through a strategic partnership agreement.
The enhanced offerings will involve an extensive training program, reduced licensing and loan submission fees on Fannie Mae's state of the art automated underwriting technology, Desktop Underwriter, and a dedicated team to help TMC deliver value to their members by improving operations and reducing origination costs. Additionally, there will be efforts to expand affordable lending program for members of the Collaborative and developing new relationships with state Housing Finance Agencies (HFAs).
"Fannie Mae has played a pivotal role in the mortgage industry recovery, thus our objective is to broaden its impact by enabling lenders regardless of size access to these key Fannie Mae benefits," John Robbins, co-founder of TMC, said. "The partnership between Fannie Mae and the Collaborative provides our members direct secondary market access, leveling the playing field for proven performers."
"Fannie Mae is happy to support The Mortgage Collaborative's efforts to serve small and mid-size mortgage lenders and community-based lending institutions," Jennifer Whip, Fannie Mae's Vice President of Customer Engagement, said. "We support fair and equitable access for lenders selling into the secondary market, and our strategic partnership with The Mortgage Collaborative enables the two organizations to work closely together to serve member needs."
About Fannie Mae:
Fannie Mae enables people to buy, refinance, or rent homes. Visit us at: http://www.fanniemae.com/progress.
About The Mortgage Collaborative:
Based in San Diego, Calif., The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance, as well as helping our members access the dynamic and changing consumer base in America.
The association is managed by its founding members, John Robbins, CMB; David G. Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America. For more information visit: http://www.MortgageCollaborative.com/.
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