Lenders One Increases Production, Membership In First Half Of 2011

Despite the economic challenges facing much of the mortgage industry, Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, reported growth in all key areas of its business through the first half of 2011.

Lenders One added 18 member companies to its roster through June and has since welcomed 10 more new members in the third quarter, bringing the total number of active members to 198. Driving this continued growth are the significant cost savings Lenders One provides members in secondary marketing, settlement services and other business related areas such as marketing. These offerings help members to maximize their profits and expand their market share.

“We only become stronger with the addition of each member,” explained Scott Stern, CEO of Lenders One. “Nonetheless, Lenders One would not exist without our network of preferred investors and vendors who provide our members with outstanding products and services. Lenders One is truly a marketplace of mortgage industry experts from all sectors of mortgage banking.”

To that end, Lenders One enhanced and expanded its preferred investor platform in the first half of 2011. It welcomed Bank of Internet and Franklin American as new investor partners as well as renewed other key investor relationships. In addition, Lenders One welcomed several new preferred vendors including DocVelocity, Leads360, MortgageEducation.com and VirPack while continuing to strengthen existing preferred vendor relationships.

Despite predictions of lower mortgage volume nationally, Lenders One members reported a 16-percent increase in total loan volume through the second quarter 2011. Lenders One members originated $39.4 billion in total loan volume through the second quarter 2011, up from $34 billion in volume generated during the first half of 2010.

Stern added, “We are pleased with our ability to provide value to every participant in the cooperative including our members, preferred investors and preferred vendors, especially considering the very difficult market we are all in.”

For Lenders One members, new and old, that value proposition also includes the LendRIGHT program, launched in January 2011. Supported by national advertising, the campaign is designed to help consumers easily recognize lenders committed to providing a premium level of service, expertise and ethics in their communities. More than 60% of Lenders One members are actively participating in the LendRIGHT program through various marketing and community outreach initiatives. “Now is the time to demonstrate that there are lenders who care about doing business the right way, the LendRIGHT way, and Lenders One is helping its members do that,” said Kristi Kovalak, director of marketing at Lenders One.

About Lenders One Mortgage Cooperative

Lenders One ( www.LendersOne.com) was established in 2000 as a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Based in St. Louis, with more than 195 members originating $90 billion in mortgage loans for 2010, the Lenders One alliance ranks as one of the largest retail mortgage originators in the U.S. Its mortgage productivity system additionally allows members to close more loans, satisfy continuing education requirements and market themselves more powerfully. Lenders One is a subsidiary of Altisource Portfolio Solutions S.A. (NASDAQ:ASPS).

About Altisource™

Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) is a provider of services focused on high value, technology-enabled, knowledge-based functions principally related to mortgage and real estate portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com.

Copyright Business Wire 2010

More from Press Releases

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling

21st Century Fox Scoops Up Local News Stations

21st Century Fox Scoops Up Local News Stations

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Walmart CEO: 'We Are Transforming Globally' With Flipkart

Three-Part FREE Webinar Series

Three-Part FREE Webinar Series

March 24 Full-Day Course Offering: Professional Approach to Trading SPX

March 24 Full-Day Course Offering: Professional Approach to Trading SPX