Lenders One Launches New Solutions and Revenue Opportunities at Annual Summit
August 5, 2021
The cooperative hosts its first large-scale, in-person event in over a year
ATLANTA, August 5, 2021 – Lenders One® Cooperative, a national alliance of independent mortgage bankers, banks and credit unions, kicks off its annual Summit in Orlando, FL on Sunday. The cooperative celebrates its continued growth and will feature a keynote speech from 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 education 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 Lenders One advisory council and members.
• L1™ Credit. L1 Credit offers credit reporting agency (CRA) repository-approved 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). This quarter we are launching a beta version of our Lenders One loan automation technology that we refer to as LOLA. LOLA is an internally developed, cloud-based technology solution designed to automate loan manufacturing processes to improve members’ operational efficiency and make it easier for members to order and receive L1 Solutions through a single entry point.
Additionally, since the last Summit, Lenders One added 18 preferred providers and two new capital markets solutions.
New preferred providers:
o Awesome Technologies. Software development, data insights, integrations, managed services and operational excellence in mortgage lending.
o Capacity. An AI-powered mortgage support automation platform that connects your tech stack to answer questions, automate repetitive tasks and build solutions to any business challenge.
o Connexions. A software as a service (SaaS) appraisal management system used by Lenders to manage their appraisal order assignment, quality control, communication, reporting and compliance.
o DocuSign. The world’s #1 electronic signature platform accelerates the completion of agreements, eliminates manual tasks and makes it easy to connect with the tools and systems you’re already using.
o Empower – Black Knight. An industry-leading loan origination system (LOS) that delivers advanced functionality to increase efficiency and speed, lower operational costs and improve the home buying experience.
o Experian. A global leader focused on empowering the modern mortgage transformation through unique data, analytics and innovation.
o Finigree. A smart network offering business automation and electronic payments for interim servicing.
o FormFree. A fintech that’s building a more accurate, efficient and inclusive lending market by automating asset, employment and income verification via powerful intelligence in a single report.
o HPA, A Cognizant Company. The leading RPA as a service provider for mortgage companies seeking secure, reliable intelligent automation solutions.
o LOS Fusion. Offers integration-based LOS/API custom development solutions, plugins and workflow automations for mortgage lenders and vendors.
o National MI. A private mortgage insurance company with a mission to enable low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower's default.
o Ocrolus. A fintech platform that transforms mortgage documents into digital data and analytics for faster, more informed lending decisions.
o PeirsonPatterson LLP. A financial service focused law firm with over 35 years of industry experience that provides document review services for all 50 states through an attorney network.
o RiskExec. A SaaS reporting and analysis platform for HMDA, CRA, redlining, fair lending and fair servicing.
o Secure Insight. A robust, cost-efficient and airtight defense against closing and wire fraud.
o The Big Point of Sale. An efficient, low-cost POS system designed by industry professionals offering best-in-class URLA web applications.
o Transunion. A global information and insights company that makes trust possible in the modern economy.
o Winnow. A powerful database of state and federal regulatory requirements used to generate surveys and searches tailored to business type, licensing, financial product type and location of offerings built with Buckley LLP.
▪ New capital markets providers:
o Origin Bank. A relationship-focused team whose mortgage expertise provides warehouse lines of credit tailored to fit your unique business needs.
o ServiceMac. An independent subservicer offering lenders, investors and other mortgage servicers personalized solutions that span the mortgage lifecycle.
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 that we have seen over the past year across all areas of the cooperative amid the stresses on the industry and a pandemic,” said Justin Demola, CMB, President, Lenders One. “We are also excited about the number of active projects in our pipeline that should continue to help members improve their profitability and better compete against larger well-funded mortgage lenders. I am excited for what is 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 suppliers of mortgage products and services. Participants on the Lenders One platform originated approximately $730 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.
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.