Lenders One Welcomes 29 New Member Companies to the Cooperative
January 23, 2024
EL PASO, TX, January 22, 2024 – Lenders One® Cooperative ("L1" or "Lenders One"), a national alliance of independent mortgage bankers, banks and credit unions managed by a subsidiary of Altisource Portfolio Solutions S.A. ("Altisource" or the "Company") (NASDAQ: ASPS), is pleased to welcome 29 new member companies that joined during the 2023 calendar year. The addition of these members amid the challenging mortgage origination environment is a testament to the power of the Cooperative's mission of helping members maximize revenue, reduce the cost to manufacture loans and improve decisions through the sharing of best practices.
Lenders One offers a suite of solutions including credit, flood, fraud, verifications and quality control that help originators lower their origination costs, while providing the same service and high level of customer support that members expect. These solutions allow members to improve profitability, which is even more important during a time when volume is lower and loan production costs are increasing.
"We are confident that our solutions help the members reduce costs and improve profitability and it is particularly exciting to add these members who see the value of membership in the current state of the market," said Justin Demola, CMB, President, Lenders One and Senior Vice President of Originations, Altisource.
About Lenders One Cooperative
Lenders One (LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, banks, credit unions and is dedicated to helping its members improve their profitability by reducing costs, maximizing revenue and sharing best practices. Lenders One members originated approximately $485 billion of mortgages during 2022, 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.
Michelle D. Esterman
Chief Financial Officer
Justin Demola, CMB
President, Lenders One
To view this press release on lendersone.com, please click here.