On Tuesday, Lenders One Mortgage Cooperative, a national alliance of mortgage bankers headquartered in St. Louis, announced the on-boarding of StratEx Partners, a Chicago-based human resources solution company, as its newest preferred vendor.

According to the two companies, the partnership will provide Lenders One members with a convenient and cost effective HR solution that eliminates the traditional paper-intensive HR and payroll processes as well as mitigates employee-associated risks.
“With a changing industry, many mortgage businesses have grown or evolved to reflect new service offerings or M&A, and with that comes a greater need for an efficient, end-to-end employee lifecycle management solution,” said Luke Pille, Lenders One director of national programs. “StratEx provides a dynamic, automated method to manage and organize all aspects of HR from a single source, so Lenders One’s members can now spend less time doing paperwork and more time consulting homebuyers.”

For mortgage bankers, establishing an integrated HR approach can often be difficult, as there are silos of data for every branch location. StratEx explained that its tools eliminate the administrative burden and costs associated with building or expanding human resource capacity internally.

The company says its relationship with Lenders One enables the company to either act as an extension of cooperative members’ existing HR operations, or to serve as the direct HR resource for those that have no centralized initiatives around these tasks.

Adam Ochstein, CEO of StratEx Partners, commented, “Lenders One members deserve a suite of services that will enrich the employee experience, which means simplifying the management of the paper- and time-intensive processes part of the employee lifecycle. StratEx provides them with practical, innovative solutions to common administrative and compliance issues that today’s companies face from hiring to retirement stages.”

StratEx can assist with the streamlining of such functions as risk management, employee development and productivity, talent, and HR management, as well as compensation and retention. The company’s online program, eStratEx, benefits Lenders One members with an employee intranet portal, real-time reporting, managed payroll coordination, integrated e-mail and more, all to better manage, automate and mitigate their HR processes.