Lenders One Celebrates the Largest Number of New Members in its 18-Year History
SCOTTSDALE, AZ–(Marketwired – March 05, 2018) – The Lenders One® Cooperative, a national alliance of independent mortgage bankers, today announced several milestones. The cooperative had its strongest year of new membership growth in the history of Lenders One, adding 31 new members during 2017. The members also received over $2.8 million of dividends over the course of the year and an additional $600,000 in returns on their dues under the Engagement Returns program. The Engagement Returns program, launched at last year’s Winter Conference, has been enormously popular and provides members the ability to substantially reduce their dues based on participation in the cooperative. For the upcoming year, Engagement Returns is expanding to add several additional opportunities for members to further reduce their dues through active engagement in the cooperative.
Lenders One is also excited to announce the launch of new proprietary products and offerings as well as new provider relationships all designed to help members successfully achieve top-line growth and increase profitability:
- New product, Trelix™ eClosing. A paperless workflow that seamlessly integrates the closing process, this solution will help Lenders One members to simplify the often-lengthy closing process by fostering better communication and improved execution, allowing for potential cost savings.
- New top five subservicer, PHH Mortgage. A leading provider of subservicing and portfolio retention services, PHH offers members an opportunity to work, at a discounted rate, with one of the top subservicers in the United States. Members receive competitive pricing with private-label, daily data feeds and custom reports included at no additional cost, easy onboarding that can be completed in under 90 days and a customizable subservicing program that is built to robust compliance standards.
- New preferred provider, FinLocker. A financial data and analytics company that reduces costs and expedites the loan approval process by electronically capturing and analyzing consumer data, FinLocker gives lenders access to critical borrower information through a trusted third-party that can be used to streamline the origination and underwriting processes for mortgages and other financial products.
- Access to Springhouse® Select. Springhouse Select is a newly formed offering that provides Lenders One members with appraisal training, ongoing staff trainings, a dedicated service team, one-time appraisal fee and more. Springhouse, a company within the Lenders One preferred provider network, is a full-service valuation solutions and appraisal management company that provides property valuation and appraisal services in all 50 states and five major territories in the United States.
- New offerings, Altisource® 4506-T and SSA. Altisource 4506-T and SSA can help Lenders One members streamline tax return and Social Security verification operations, reduce risk and increase cost savings. The offerings are powered by the National Credit-Reporting System, Inc. (NCS).
“We are thrilled with the record-breaking new membership growth of Lenders One in 2017,” said Bryan Binder, Chief Executive Officer of Lenders One. “As we continue to increase in size and market presence, Lenders One remains devoted to delivering exceptional value and service to our members, preferred vendors and investors.”
“Our focus in 2018 is on giving our members an edge in a rapidly changing industry,” added Michael Kuentz, President of Lenders One. “Our investment in proprietary products like Trelix eClosing and noteXchange®, our continued strength in secondary market solutions and our lender-focused initiatives will help our members solve the toughest challenges facing lenders today.”
About Lenders One® Cooperative
Lenders One (LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Participants on the Lenders One platform originated approximately $270 billion of mortgages during 2017, collectively ranking as one of the largest retail mortgage entities 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.
Chief Financial Officer
Britt E. Gottlieb
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