ATLANTA, March 7, 2022 /PRNewswire/ -- Lenders One®
Cooperative ("L1" or "Lenders One"), a national alliance of
independent mortgage bankers, banks and credit unions, and managed
by a subsidiary of Altisource Portfolio Solutions S.A., welcomes
members and providers in Phoenix,
AZ at its annual Summit. Keynote speaker Jim Craig, U.S. Olympic Ice Hockey Gold
Medalist, will kick the event off today. Casey Crawford, Doug
Duncan, Joel Kan and other
key industry speakers will keep the momentum going for an event
designed to educate and help members develop strategies to succeed
in the coming months and years ahead. The Summit will also feature
member-only networking and education sessions to showcase new
opportunities and best practices for the current industry
cycle.
To help the Lenders One members improve their profitability,
manufacture loans more efficiently and close more loans, we
recently launched three new solutions.
- L1 Credit. L1 Credit is a full credit
reporting agency (CRA) to offer members full tri-merge credit
reports and other Fair Credit Reporting Act (FCRA) related products
required to manufacture a loan, including fraud reports,
undisclosed debt notifications (UDN), verification of employment
(VOE), verification of assets (VOA), tax return information
(4506-T) and Social Security verification (SSV)
reports.
- Lenders One Loan Automation (LOLA). LOLA is an
internally developed, cloud-based technology solution designed to
automate the loan manufacturing process to improve members'
operational efficiency and make it easier for members to order and
receive L1 Solutions through a single point of entry without human
intervention.
- Walmart In-Store Opportunity. Lenders One is
leasing space with Walmart Inc. to bring mortgage solutions to the
many customers visiting their stores. Members can benefit by
operating "store-in-store" branch locations, offering mortgage
solutions including purchase, refinance, and home equity lines to
customers. We now have three locations under lease with many
more opportunities to come.
Additionally, since the last Summit, Lenders One has added five
new preferred providers and two new capital markets providers.
- New preferred providers:
-
- Community Home Lenders Association (CHLA). A
national nonprofit association of small and mid-sized
community-based Independent Mortgage Banks (IMBs) that promote
federal mortgage programs, rules and regulations that treat
community mortgage lenders fairly.
- iFOLIO. A digital marketing platform for the
mobile world that simplifies sales and marketing through digital
business cards, presentations and mobile-friendly campaigns.
- OnCourse Learning. An all-in-one training provider,
including mortgage licensure, continuing education, professional
development as well as governance, risk and compliance
training.
- Pitch Point Solutions. A leading provider of fraud
detection and verification services for the mortgage, tenant and
background screening business channels.
- Sales Boomerang. An automated borrower intelligence
and retention system.
- Sterling Point Advisors, LLC. An M&A advisory firm
tailored to middle market companies that are underserved by
traditional investment banks.
- New capital markets providers:
-
- University Bank. Offers reverse mortgages under the
1st Nations Reverse Mortgage brand.
- Rushmore Correspondent Lending Services. Purchases
closed loans from approved, independently owned mortgage lenders,
banks and credit unions on a delegated and non-delegated
basis.
Since our Summit in August 2021,
Lenders One added 15 members and grew the membership base by 12%
compared for the year. In addition, Lenders One hired 14 new
employees, including Tricia
Migliazzo, SVP of Origination Sales and Robert Arrington, Director of Credit and
Reseller Programs, to help our members improve their profitability
and support our aggressive growth plan for 2022 and beyond.
"I could not be happier with the direction the cooperative is
headed," said Justin Demola, CMB, President, Lenders One. "I
am proud of the work the team has done to get L1 Credit, LOLA and
the Walmart opportunity across the finish line; we are already
seeing the tremendous value these solutions are creating for our
members. It is our mission to help members improve their
profitability and better compete against larger, well-funded
mortgage lenders, and I am excited to release new and innovative
solutions to accomplish that mission."
About Lenders One Cooperative
Lenders One (LendersOne.com) was established in 2000 as a
national alliance of independent mortgage bankers, banks, credit
unions, correspondent lenders and suppliers of mortgage products
and services. Participants on the Lenders One platform originated
approximately $780 billion of
mortgages during 2020, collectively ranking as the largest retail
mortgage entity in the U.S. Lenders One is managed by a subsidiary
of Altisource Portfolio Solutions S.A.
About Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is an
integrated service provider and marketplace for the real estate and
mortgage industries. Combining operational excellence with a suite
of innovative services and technologies, Altisource helps solve the
demands of the ever-changing markets we serve. Additional
information is available at altisource.com.
Investor Contact:
Michelle D. Esterman
Chief Financial Officer
770-612-7007
Michelle.Esterman@altisource.com
Press Contact:
Justin Demola, CMB
President, Lenders One
770-956-5809
Justin.Demola@lendersone.com
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SOURCE Altisource Portfolio Solutions, S.A.