Lenders One launches new solutions and new revenues

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ATLANTA, August 5, 2021 (GLOBE NEWSWIRE) – Lenders One® Cooperative, a national alliance of independent mortgage bankers, banks and credit unions, kicks off its annual summit in Orlando, Florida on Sunday. The co-op celebrates its continued growth and will present a keynote address by Frank Abagnale of “Catch Me If You Can” fame and an industry panel, including moderator Clayton Collins and panelists Andrew Bon Salle, Kathy Kraninger and Brian Montgomery. The Summit includes member-only networking sessions and training sessions designed to help members discover new opportunities and strategies for today’s market and beyond.

Since our last Summit in March 2020, Lenders One has welcomed 40 new members and launched initiatives to help our members improve their performance and profitability. These initiatives were developed in response to feedback we received from the Advisory Board and members of Lenders One.

  • L1 Credit. L1 Credit offers comprehensive credit reports approved by the Credit Reporting Agency (ARC) and other products related to the Fair Credit Reporting Act (FCRA) required for the making of a loan, including credit reports. fraud, Undisclosed Debt Notifications (UDN), Employment Verification (VOE), Asset Verification (VOA), Tax Return Information (4506-T) and Social Security Verification Reports (SSV).
  • Lenders One Loan Automation (LOLA). This quarter, we are launching a beta of our Lenders One loan automation technology that we call LOLA. LOLA is a cloud-based, in-house developed technology solution designed to automate loan manufacturing processes to improve member operational efficiency and make it easier for members to order and receive L1 solutions through a point single entry.

Additionally, since the last summit, Lenders One has added 18 preferred vendors and two new capital markets solutions.

  • New Preferred Suppliers:
    • Awesome technologies. Software development, data insights, integrations, managed services and operational excellence in mortgage lending.
    • Capacity. An AI-powered mortgage support automation platform that connects your technology stack to answer questions, automate repetitive tasks, and create solutions to any business challenge.
    • Connections. A software-as-a-service (SaaS) appraisal management system used by lenders to manage appraisal order assignment, quality control, communication, reporting and compliance.
    • DocuSign. The world’s # 1 electronic signature platform speeds up deal closing, eliminates manual tasks, and makes it easier to connect to the tools and systems you already use.
    • Empower – Dark Knight. An industry-leading loan origination system (LOS) that offers advanced features to increase efficiency and speed, reduce operating costs and improve the home buying experience.
    • Experiential. A global leader focused on empowering modern mortgage transformation through unique data, analytics and innovations.
    • Finigre. A smart grid offering business automation and electronic payments for the intermediary service.
    • FormFree. A fintech that builds a more accurate, efficient and inclusive lending market by automating the verification of assets, employment and income through powerful intelligence in a single report.
    • HPA, a conscious company. The leading RPA as a service provider for mortgage companies looking for secure and reliable intelligent automation solutions.
    • Fusion LOS. Offers custom integration-based LOS / API development solutions, plug-ins and workflow automations for mortgage lenders and sellers.
    • National MI. A private mortgage insurance company whose mission is to provide low-down payment borrowers with homeownership while protecting lenders and investors from losses associated with a borrower’s default.
    • Ocrolus. A fintech platform that turns mortgage documents into digital data and analytics for faster, more informed loan decisions.
    • PeirsonPatterson LLP. A financial services-focused law firm with over 35 years of industry experience providing document review services for all 50 states through a network of attorneys.
    • RiskExec. A SaaS reporting and analysis platform for HMDA, CRA, redlining, fair lending and fair service.
    • Secure preview. A robust, cost-effective and waterproof defense against fraud and wire fraud.
    • The great selling point. An efficient and inexpensive point of sale system designed by industry professionals offering the best URLA web applications.
    • Transunion. A global information and knowledge company that makes confidence in the modern economy possible.
    • Vanner. A powerful database of state and federal regulatory requirements used to generate surveys and research tailored to business type, licensing, financial product type, and location of offerings built with Buckley LLP.
  • New Capital Markets Providers:
    • Home bank. A relationship-driven team whose mortgage expertise offers warehouse lines of credit tailored to your unique business needs.
    • ServiceMac. An independent subcontractor providing lenders, investors and other mortgage managers with customized solutions that span the mortgage life cycle.

Further strengthening the Lenders One cooperative, Lenders One welcomes Regional Directors Lindsay Anders, CMB and Marty Jennings as well as Vice President, Strategy and Operations Dimitrios Georgakakis, MBA.

“We are thrilled with the tremendous growth we have seen over the past year in all areas of the co-op amid pressures on the industry and a pandemic,” said Justin Demola, CMB, President by Lenders One. “We are also excited about the number of active projects in our pipeline that should continue to help members improve profitability and better compete with larger, well-funded mortgage lenders. I’m excited for what’s to come.

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 providers of mortgage products and services. Participants in the Lenders One platform generated approximately $ 730 billion in mortgages in 2020, ranking collectively as the largest retail mortgage entity in the United States. Lenders One is managed by a subsidiary of Altisource Portfolio Solutions SA.

About Altisource®

Altisource Portfolio Solutions SA (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 meet the demands of the ever-changing markets we serve. Additional information is available at altisource.com.

Source: Altisource Portfolio Solutions SA

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