MBANow: Michael Kuentz of Lenders One on State of the Industry
The Mortgage Bankers Association released a new MBANow video featuring Michael Kuentz, CEO of Lenders One, St. Louis, who discusses the current state of the industry with MBA Senior Vice President of Residential Policy and Member Engagement Pete Mills.
The video can be viewed at https://www.youtube.com/watch?v=ZpD0ufuPqTQ&feature=em-uploademail.
Kuentz recently guided Lenders One, one of the first mortgage-based cooperatives in the industry, through its acquisition by Altisource S.A., a Luxembourg-based financial services conglomerate. He said re-energizing the cooperative model from its roots 20 years ago was an immediate priority when he came aboard two years ago.
“What we had to think about [was] we’ve got to help our members do three things: “we’ve got to help them stay ahead of the industry,” Kuentz said. “And that means not just in terms of whatever regulatory challenges that are coming down the pike, but really how we can create new solutions for them that are on the cutting edge. Second, we’ve got to help them optimize the business. We’re taking a deep look inside of these members shops right now and finding every expense that we can help them to cut and save. And finally, we’re thinking about our partnership, and leveraging collective insights and educating our members on what is critical in the industry.”
MBA recently signed a partnership agreement with Lenders One. “It allows our members to leverage [MBA] in some of those key areas, whether it’s training, continuing education–whatever that might be, we want our members to take advantage,” Kuentz said. “There’s no question as we’re out in the marketplace together, acquiring new members in the marketplace so they can come in and take advantage of both of our opportunities is big.”
Other videos in the MBANow series can be viewed at the MBANow website: https://www.mba.org/get-involved/stay-connected/mba-now.
