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Article: The power of partnership: a business cooperative for midsized mortgage bankers is helping them cut costs and secure a profitable competitive niche.(Profile)
- Article from:
- Mortgage Banking
- Article date:
- June 1, 2009
- Author:
CopyrightCOPYRIGHT 2009 Mortgage Bankers Association of America. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Farmers introduced the original cooperative concept in the 18th and 19th centuries to pool resources for economic protection and to leverage their size to get better pricing on supplies. Other cooperative concepts are known to exist as far back as the Greek and Roman empires. While the co-op idea is time-tested and powerful, it is not one that had historically seen a tremendous amount of popularity or adoption in the mortgage industry.
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Today, the future of the mortgage industry is far different than it was just three years ago. And with companies looking for ways to maximize revenues, minimize expenses and expand market share, the ...