Lenders See Value in LendRIGHT™ Campaign to Improve Image of Mortgage Bankers, Attract Potential Homeowners

ST. LOUIS--(BUSINESS WIRE)--While the mortgage industry struggles to regain footing, some lenders are looking to the LendRIGHT™ national branding campaign to rebuild consumer trust and to bring more borrowers through their office doors.

“There is a lot of negative information in the mortgage industry right now, and it is harder and harder for consumers to differentiate one lender from another”

The campaign, launched earlier this year by Lenders One Mortgage Cooperative™, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, has already attracted 100 companies with a total of 2,000 branches around the country.

“There is a lot of negative information in the mortgage industry right now, and it is harder and harder for consumers to differentiate one lender from another,” said Larry Bell, vice president of the Bank of Idaho, a LendRIGHT lender. “By aligning with this national campaign, we want consumers to know we make the LendRIGHT pledge.

Bank of Idaho, headquartered in Idaho Falls, has served its market for 16 years through six offices, and it has 16 loan officers. Bank management believes its LendRIGHT campaign participation will give provide the bank with a competitive edge, Bell said.

Craig Strent, CRMS, CMPS, CEO of Apex Home Loans Inc. based in Rockville, Md., said participating in the LendRIGHT program offers his company the credentials that will give consumers confidence in its business.

“The LendRIGHT pledge encapsulates what we have always stood for as a business and shows that our commitment level to quality and professionalism is important to us,” Strent said. “We are not just a flash in the pan.”

The industry needs campaigns such as LendRIGHT to continue to rebuild the confidence consumers once had in the mortgage industry, Strent added. “Consumers are confused and skeptical, and this campaign helps customers differentiate between lenders.”

As lenders search for ways to project a positive message to consumers, the LendRIGHT pledge helps them do just that. Lenders receive their LendRIGHT designation after they pledge to maintain their pursuit of excellence by fulfilling the qualities defined in the RIGHT acronym:

• Relationships – working with you to help you identify the right loan;
• Information – sharing what we know to help you understand your options;
• Guidance – providing advice to help you make good choices;
• Honesty – communicating and responding to your needs in an open manner, and
• Trust – working to take care of the details to help you close on time.

“The message behind the LendRIGHT campaign is that there are some companies that place an importance on conducting business the right way,” said Kevin Quinn, vice president of First Internet Bank of Indiana, another LendRIGHT lender. “The campaign will give us more national exposure as well as help add to our credibility.”

Scott Stern, CEO of Lenders One, explained, “The LendRIGHT campaign will help lenders differentiate themselves as quality, trusted advisers and, even more so, reinvigorate consumer confidence in the lending process. The number of participating lenders continues to grow, as does their enthusiasm for what this campaign represents.”

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, 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.