Wholesale One Cooperative Growing In Charter Memberships and Wholesale Lending Partners

January 26, 2015

Market Demand for Lending Efficiency and Regulatory Compliance Drive Growth in Newest Mortgage Cooperative


ST. LOUIS, January 26, 2015
– Wholesale One, the national mortgage broker cooperative, today announced three charter mortgage broker members and the addition of two wholesale investors to the cooperative platform. Wholesale One is managed by a division of Altisource Portfolio Solutions.


“The mortgage market is seeking cost effective and efficient access to lending products and services that drive productivity and help address important compliance needs,” said Greg Murray, chief executive officer of Wholesale One. “
With our relationships in the mortgage industry we have quickly converted Wholesale One from a concept to an entity delivering value to members.”   


New
charter mortgage brokers to Wholesale One include The Advantage Mortgage Group of Scottsdale, AZ, Advantage Rate Mortgage of Matthews, NC and Ultimate Rate Mortgage Company of Des Plaines, IL.


“The cooperative model is attractive for independent brokers for the way it streamlines our fragmented marketplace and helps us drive efficiency and productivity,” said Stan Wang, president of The Advantage Mortgage Group. “We joined Wholesale One to help us grow our business and know our borrowers will benefit from the access to products, services and expertise while we benefit from reducing costs and getting assistance meeting complex regulatory requirements.”


In addition, two charter wholesalers will participate on the Wholesale One platform and work with brokers to find the best loan product for their borrowers.  The charter wholesalers are
Angel Oak Mortgage Solutions of Atlanta, GA and SterneAgee Mortgage of Orlando, FL. The addition of the charter wholesalers immediately offers Wholesale One members the ability to access agency and non-agency loans.


“Many brokers may not be aware of the lending options available for non-agency borrowers, so Wholesale One is expanding the exposure to borrowing alternatives and giving us new ways to grow our business,” said Tom Hutchens, senior vice president of sales and marketing for Angel Oak Mortgage Solutions. “By being a part of of the Wholesale One cooperative, we’re giving brokers confidence that we have been vetted as a lender for their non-agency loans.”

About Wholesale One

Wholesale One (www.wholesaleone.com) is a national mortgage cooperative dedicated to creating a more stable and efficient wholesale lending environment for residential mortgage brokers and wholesale lenders. Established in 2014, Wholesale One helps mortgage brokers and wholesale lenders improve their profitability and deliver an outstanding experience for borrowers. The cooperative is managed by a subsidiary of Altisource Portfolio Solutions S.A. (NASDAQ: ASPS).

About Altisource®

Altisource Portfolio Solutions S.A. is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries offering both distribution and content. Altisource leverages proprietary business process, vendor and electronic payment management software and behavioral science based analytics to improve outcomes for marketplace participants. Altisource has been named to Fortune's fastest growing global companies two years in a row. Additional information is available at www.Altisource.com.