Lenders One Showcases Growth and Innovation at Annual Summit
ATLANTE, 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 SA, welcomes members and suppliers in Phoenix, AZ at its annual summit. Keynote speaker Jim CraigUS Olympic gold medalist in ice hockey, will kick off the event today. Casey Crawford, Doug Duncan, Joel Can and other key industry speakers will keep the momentum going for an event designed to educate and help members develop strategies for success in the months and years ahead. The Summit will also feature members-only networking and education sessions to showcase new opportunities and best practices for the current industry cycle.
To help Lenders One members improve their profitability, manufacture loans more efficiently and close more loans, we recently launched three new solutions.
- Credit L1. L1 Credit is a comprehensive Credit Reporting Agency (CRA) that offers members comprehensive tri-merger credit reports and other Fair Credit Reporting Act (FCRA) related products necessary 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 Reports Social Security Verification (SSV).
- One Loan Automation (LOLA) lenders. LOLA is an in-house developed, cloud-based technology solution designed to automate the loan manufacturing process to improve operational efficiency for members and facilitate ordering and receiving L1 solutions through a single point of entry without human intervention.
- Opportunity in Walmart store. Lenders One leases space with Walmart Inc. to provide mortgage solutions to the many customers who visit their stores. Members can benefit from operating “store-to-store” branches, providing customers with mortgage solutions including purchase, refinance and home equity lines. 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 Suppliers:
- Community Home Lenders Association (CHLA). A national, not-for-profit association of small and medium-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 with mobile-friendly digital business cards, presentations and campaigns.
- Learning in progress. An all-in-one training provider, including mortgage licensing, continuing education, professional development as well as governance, risk and compliance training.
- Launch point solutions. A leading provider of fraud detection and verification services for commercial mortgage, tenant and background verification channels.
- Sales boomerang. An automated borrower intelligence and retention system.
- Sterling Point Advisors, LLC. A M&A advisory firm tailored to middle market companies that are underserved by traditional investment banks.
- New capital market providers:
- University bank. Offers reverse mortgages under the 1st Nations Reverse Mortgage brand.
- Rushmore correspondent loan services. Redeems closed loans from licensed and independent mortgage lenders, banks and credit unions on a delegated and non-delegated basis.
Since our Summit August 2021, Lenders One added 15 members and grew the membership base by 12% year over year. In addition, Lenders One hired 14 new employees, including Tricia MigliazzoSVP Origination Sales and Robert AringtonDirector of Credit and Reseller Programs, to help our members improve their profitability and support our aggressive growth plan for 2022 and beyond.
“I couldn’t be happier with the direction the co-op is taking,” said Justin Demola, CMB, President of Lenders One. “I’m proud of the work the team has done to bring L1 Credit, LOLA and the Walmart opportunity to the finish line; we are already seeing the tremendous value these solutions create for our members. Our mission is to help members improve their profitability and better compete with large, well-funded mortgage lenders, and I’m excited to launch new, innovative solutions to accomplish this mission. »
About One Cooperative Lenders
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 hail from approximately $780 billion of mortgages in 2020, collectively ranking as the largest retail mortgage lending entity in the United States Lenders One is operated by a subsidiary of Altisource Portfolio Solutions SA
Altisource Portfolio Solutions SA (NASDAQ: ASPS) is an integrated service provider and marketplace for the real estate and mortgage industries. By 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.
Michelle D. Esterman
President, Lenders One
SOURCE Altisource Portfolio Solutions, SA