Mortgage provider Lenders One Coop opens in-store locations at Walmart

The Lenders One Cooperative of more than 250 mortgage bankers said it’s opening its first three in-store locations at Walmart Inc. WMT, -1.13% stores in New Jersey and Florida, as part of a leasing deal announced in March. The first Walmart branch in Newton, N.J., is being operated by the cooperative’s Family First Funding LLC business, which is a retail mortgage lender licensed in 35 states and the District of Columbia. Two more Walmart-based in-store branches will open in the next month in Orlando, Fla., by Family First Funding, as well as a Boonton, N.J. location by MLB Residential Lending LLC. Lenders One is managed by a subsidiary of Altisource Portfolio Solutions S.A. ASPS, +0.81%. Lenders One plans to open additional branches in California, Ohio, South Carolina and Texas, the company said Friday. Shares of Walmart rose 0.3% in premarket trades. Altisource Portfolio Solutions stock is up 10.7% in 2022, compared to a 33.4% drop by the Nasdaq.