LAS VEGAS, March 06, 2023 (GLOBE NEWSWIRE) -- Lenders One® Cooperative (“L1” or “Lenders One”), a national alliance of independent mortgage bankers, banks and credit unions, today welcomes members and providers in Las Vegas, NV at the L1 Summit, its annual conference. The Cooperative members will celebrate the strength of the cooperative and participate in education sessions, keynotes and networking events designed to help members reduce costs, increase profitability and navigate the mortgage markets. L1 Summit features many of the top industry experts and member-only networking and education sessions, to showcase best practices for the current industry cycle.
Lenders One, which is managed by a subsidiary of Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, also announces today that the Company has shares and/or warrants in three mortgage technology companies that support and serve the Lenders One membership. The three technology companies are Mortgage Automation Technologies, Inc. (the “Big Point of Sale”), PollyEx, Inc. (“Polly”) and Secure Settlements Inc., (“Secure Insight”).
“Altisource’s interest in these companies supports the Lenders One mission to be the one-stop source for mortgage lenders to access best-in-class solutions that improve their profitability and meet the evolving needs of borrowers,” said Justin Demola, CMB, President, Lenders One and Senior Vice President of Originations, Altisource. “These compelling technology solutions should help our members improve their performance during these challenging times.”
To help its members improve their profitability, manufacture loans more efficiently and close more loans, over the last year Lenders One has enhanced several of its solutions previously released, including:
Additionally, since the last Summit, Lenders One has added 12 new preferred providers and four new capital markets providers.
New Preferred Providers:
New Capital Markets Providers:
Since the last Summit in March 2022, Lenders One added 28 new members. To help our members improve their profitability, maximize their benefits and support our aggressive growth plan for 2023 and beyond, Lenders One hired nine new employees including Theo Ellis, CFA, Vice President of Growth; Jon Grafflin, CMB, AMP, Vice President of Capital Markets; and Krista K. Sabol, Director of Marketing.
“Amid today’s challenging mortgage origination environment, I am excited about the milestones achieved by the Cooperative over the last year and optimistic about our ability to continue to help the L1 members better compete,” said Justin Demola, CMB, President, Lenders One. “Our longstanding mission is to help members reduce costs, improve their profitability and better compete against larger, well-funded mortgage lenders. Our support and release of these innovative solutions are key to accomplishing 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.
Source: Altisource Portfolio Solutions S.A.
Investor Contact: Michelle D. Esterman Chief Financial Officer 770-612-7007 [email protected] | Press Contact: Justin Demola, CMB President, Lenders One 770-956-5809 [email protected] |
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