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Lenders One Introduces Bundled Service Product to Members

  Lenders One Introduces Bundled Service Product to Members

Business Wire

ST. LOUIS -- September 05, 2012

Lenders One Mortgage Cooperative, a national alliance of community mortgage
bankers, correspondent lenders and suppliers of mortgage products and
services, has introduced its first Origination Services Bundle product to its
members. The new Origination Services Bundle is specifically designed to
facilitate more efficient retail loan production.

Working with select partners and Altisource, the initial Origination Services
Bundle will include appraisal, flood certification, fraud report and Internal
Revenue Service 4506T services provided at a discount compared to ordering
them individually. The bundled services will be delivered via a custom portal
powered by REALTrans®, Altisource’s patented order management platform. The
portal enables seamless, single-source ordering, tracking, messaging and
fulfillment, which helps simplify the complex process of originating a
residential home loan.

“Lenders One strives to deliver products and services that improve our
members’ performance,” said Jeff McGuiness, CEO of Lenders One. “By leveraging
Lenders One’s buying power, as well as the patented technology and scope of
Altisource services, we are in a unique position to deliver meaningful product
cost savings and loan processing efficiencies for our members.”

“The bundle includes services that we were already ordering; however, through
the bundle we were able to save money,” said Greg Grojean, Lenders One member
and group senior vice president of Home State Bank, N.A. located outside of
Chicago. “We started using the bundle because we realized we could pass on the
cost savings we received to our borrowers. This gives us a competitive edge in
the marketplace as consumers are looking to work with lenders that are willing
to go the extra mile for them.”

About Lenders One Mortgage Cooperative

Lenders One (www.LendersOne.com) was established in 2000 as a national
alliance of independent mortgage bankers, correspondent lenders and suppliers
of mortgage products and services. Members of the St. Louis-based platform
originated more than $106 billion in mortgages in 2011, collectively ranking
as one of the largest retail mortgage origination entities in the U.S. Lenders
One, now more than 230 lender members strong, is managed by a subsidiary of
Altisource Portfolio Solutions, S.A.

About Altisource™

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

Contact:

Investor Contact:
Altisource
Michelle Esterman, Chief Financial Officer, +352 2469 7950
Michelle.Esterman@altisource.lu
or
Press Contact:
Lenders One
Kristi Kovalak, Director of Marketing, 314-817-1313
Kkovalak@LendersOne.com
 
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