The Mortgage Collaborative has entered into an agreement with Fannie Mae that would make certain enhancements of its benefits available to its lenders.
TMC is an independent lending cooperative that serves small and midsized mortgage lenders and community lending institutions.
It aims to give its lenders access to Fannie Mae benefits, regardless of their size, it said in a statement last week. This partnership would give them secondary access to those benefits and level the playing field for proven performers, it added.
Fannie Mae will open education and training offerings to TMC members, as well as discounts on fees for its automated underwriting technology. It will also help TMC reduce origination costs and improve its operations efficiency, and it will endeavor to expand affordable lending to TMC members and develop new relationships with state HFAs.
