Sharing Best Practices Critical During Times of Change

ST. LOUIS--(BUSINESS WIRE)--More than 400 representatives from 180 mortgage lenders across the country gathered at the Lenders One Mortgage Cooperative’s Winter Conference in Scottsdale, Arizona last month. The event featured educational sessions, networking sessions, keynote speakers, legislative policy discussions and over 2000 private meetings between mortgage bankers, correspondent lenders and mortgage vendors.

“The conference provides a prime opportunity for mid-tier banks to discuss their future and how legislative changes will affect them”

Lenders attending the conference heard from a wide variety of industry leaders on relevant and timely topics such as loan officer compensation changes, risk retention legislation, GSE reform, cross-selling, repurchase strategies and origination strategies for a changing marketplace.

“At a time when loan officer compensation, risk retention and the future of Fannie Mae and Freddie Mac are on the minds of every lender in the country, having a conference that gives them a forum to discuss those and other issues is imperative,” said Scott Stern, CEO of Lenders One. “It is this kind of cooperation and information sharing that will give the industry a solid future.”

In addition to the speakers and the sessions, lenders had the opportunity meet one-on-one with Lenders One’s host of preferred partners including Affiliated Mortgage Company, Ally Bank, Bank of Internet, BB&T, JPMorgan Chase, CitiMortgage, Comerica Bank, Fannie Mae, MetLife Bank, MSI, PHH Mortgage and Wintrust Mortgage. Of those, Lenders One was pleased to report that BB&T and Fannie Mae are the two most recent Preferred Investors to renew their Preferred Investor agreements with Lenders One.

“The conference sessions are very informative and cover relevant and important topics that give us the strategic information we need in this business climate,” said Joe Collins, senior vice president of Lenders One member TIB Mortgage in Texas. “The conference provides a prime opportunity for mid-tier banks to discuss their future and how legislative changes will affect them,” Collins added. “By working with groups such as CML America, a legislative monitoring and lobbying group for independent lenders, Lenders One members have an opportunity to work together on issues that affect hundreds of lenders around the country. We are fighting for our lives,” he said, “and forums at the Lenders One Conference and groups such as CML American ensure that our voices are heard on Capitol Hill and that our concerns are addressed.”

Twice a year Lenders One hosts a conference for more than 180 lenders and more than 30 vendor and investor partners. Cooperative members enjoy the benefits of collective power, which helps them to maximize their revenue, minimize their expenses and expand their market share.

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 180 members originating $90 billion in mortgage loans for 2010, the Lenders One alliance ranks as one of the 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).

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 its integrated technology that includes decision models and behavioral based scripting engines, the company provides solutions that improve clients’ performance and maximize their returns. Additional information is available at www.altisource.com.