SAN DIEGO, CA--(Marketwired - Oct 20, 2015) - Freddie Mac (OTCQB: FMCC) today announced an alliance with The Mortgage Collaborative, an independent mortgage lending cooperative, designed to help its members build better businesses and compete more effectively in today's dynamic mortgage market. The new alliance was announced in San Diego at the Mortgage Bankers Associations 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.
Based in San Diego, The Mortgage Collaborative is an independent network of small, mid-sized and community-based lenders. The cooperative members already represent more than $60 billion dollars in annual originations and have footprints in most major markets throughout the country.
Chris Boyle, Senior Vice President of Single Family Sales and Relationship Management at Freddie Mac said, "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. 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's working families."
Jim Park, CEO of The Mortgage Collaborative, said, "TMC 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. A vibrant secondary market supported by a strong network of independent mortgage originators is critical to a strong US housing market and will help support sustainable homeownership for more families throughout the country."
For more information about TMC, contact Rich Swerbinsky at RSwerbinsky@mtgcoop.com
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 cooperative is managed by its founding members, John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); 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/.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac's future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future results are discussed more fully in our reports filed with the SEC.