Lenders One Enjoys Record Attendance, Enables Industry Information Sharing at Summer Conference

Published on Thursday, 19 August 2010 15:34 Written by TradersHuddle Staff

ST. LOUIS-( Business Wire )-

Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, celebrated its 10-year anniversary with record attendance at the annual Summer Conference in Ranchos Palos Verdes, California, Aug. 2-4. During this landmark conference, attendees heard from industry experts, shared best practices with fellow lenders, participated in various educational sessions and took part in private meetings with Lenders One’s preferred vendor and investor partners. With more than 500 attendees, including 300 Member mortgage bankers, the conference is one of the largest gatherings of lenders in the mortgage industry.

“Lenders One has had tremendous growth in its 10 years and has given independent bankers a forum to share ideas and the opportunity to understand and digest proposed regulatory and industry changes and their effects on lenders,” said Scott Stern, Lenders One CEO. “Our member companies have remained competitive and contributed to rebuilding the mortgage market because of the resources provided through their membership.”

Douglas Duncan, Fannie Mae chief economist, offered attendees an interpretation of the future of originations. Small- to mid-sized lenders have had strong concerns in recent months regarding legislative and regulatory changes. Conference attendees left Duncan’s session with confidence that there is a place for community mortgage bankers in years to come, and that they can continue to experience growth. Howard Glaser, Rob Zimmer and other representatives from CML America (of which Lenders One is a founding member) also provided industry updates and information about the potential effect of the Dodd-Frank Wall Street and Consumer Protection Act that was recently signed into law by President Obama.

The role of Lenders One promises to continue to be important to the industry as well.

“I initially viewed Luxury Mortgage’s participation in Lenders One merely as a means to drive down expenses and generate additional revenue through the aggregated bargaining power of the cooperative,” added David Adamo, CEO of Luxury Mortgage Corp. “However, over the course of the last year and a half through various interactions with the cooperative, my perception has changed dramatically; it is a critical, essential bond of likeminded mortgage professionals that provides opportunity for invaluable insight, networking and market intelligence on so many different levels.”

Joining the Lenders One’s member lenders were approximately 100 other individuals representing its preferred vendor and investor partners. Through these relationships, Lenders One has been able to create a true marketplace for lenders, vendors and investors to convene.

“Paramount Mortgage is proud to have been a cooperative member since inception,” said David Griege, executive vice president of Paramount Mortgage – Lenders One’s first member company. “The networking opportunities that Lenders One affords us are entirely unique. We can share ideas and strategies for success with lenders who have similar business models in different regions, as well as foster stronger relationships with third parties that are critical to successful operations.”

About Lenders One Mortgage Cooperative

Lenders One is a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. The cooperative was established in 2000 and is based in St. Louis. With more than 170 members originating $77 billion in mortgage loans for 2009, the Lenders One alliance ranks as the third largest retail mortgage originator 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). For more information about membership, contact Tim Stern 866-728-5678 or visit www.lendersone.com.

About Altisource

Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a provider of services focused on high value, knowledge-based functions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Utilizing our integrated technology that includes decision models and behavioral based scripting engines, we provide solutions that improve our clients’ performance and maximize their returns. Additional information is available at www.altisource.com.

For Lenders OneCharlyne H. McWilliams, 301-933-5567orMegan Ard, 678-781-7223