Lenders One Cooperative [1] will begin its annual Summit [2] in Orlando, Florida this coming Sunday, August 8. The Cooperative will feature a keynote speech from Frank Abagnale of “Catch Me If You Can” fame, and feature an industry panel, including moderator Clayton Collins, and panelists Andrew Bon Salle, Kathy Kraninger and Brian Montgomery. The Summit includes member-only networking sessions and education sessions designed to help members discover new opportunities and strategies for today’s market and beyond.
Since the last Summit in March 2020, Lenders One has welcomed 40 new members, and has launched initiatives to help our members improve their performance and profitability. These initiatives were developed in response to feedback received from the Lenders One advisory council and members.
- L1 Credit: L1 Credit offers credit reporting agency (CRA) repository-approved full tri-merge credit reports and other Fair Credit Reporting Act (FCRA) related products required to manufacture a loan, including fraud reports, Undisclosed Debt Notifications (UDN), Verification of Employment (VOE), Verification of Assets (VOA), tax return information (4506-T), and Social Security Verification (SSV) reports.
- Lenders One Loan Automation (LOLA): This quarter, the beta version of the Lenders One loan automation technology launched referred to as LOLA, an internally developed, cloud-based technology solution designed to automate loan manufacturing processes to improve operational efficiency.
Additionally, since the last Summit, Lenders One added 18 preferred providers and two new capital markets solutions.
New preferred providers
- Awesome Technologies: Software development, data insights, integrations, managed services, and operational excellence in mortgage lending.
- Capacity: An AI-powered mortgage support automation platform that connects your tech stack to answer questions, automate repetitive tasks and build solutions to any business challenge.
- Connexions: A software as a service (SaaS) appraisal management system used by lenders to manage their appraisal order assignment, quality control, communication, reporting, and compliance.
- DocuSign: An electronic signature platform that accelerates the completion of agreements, eliminates manual tasks, and makes it easy to connect with the tools and systems you’re already using.
- Empower–Black Knight: A loan origination system (LOS) that delivers advanced functionality to increase efficiency and speed, lower operational costs, and improve the homebuying experience.
- Experian: A global leader focused on empowering the modern mortgage transformation through unique data, analytics, and innovation.
- Finigree: A smart network offering business automation and electronic payments for interim servicing.
- FormFree: A fintech that’s building a more accurate, efficient, and inclusive lending market by automating asset, employment and income verification via powerful intelligence in a single report.
- HPA, A Cognizant Company: The leading RPA as a service provider for mortgage companies seeking secure, reliable intelligent automation solutions.
- LOS Fusion: Offers integration-based LOS/API custom development solutions, plug-ins, and workflow automations for mortgage lenders and vendors.
- National MI: A private mortgage insurance company with the mission to enable low down payment borrowers to realize homeownership, while protecting lenders and investors against losses related to a borrower's default.
- Ocrolus: A fintech platform that transforms mortgage documents into digital data and analytics for faster, more informed lending decisions.
- PeirsonPatterson LLP: A financial service focused law firm with more than 35 years of industry experience that provides document review services for all 50 states through an attorney network.
- RiskExec: A SaaS reporting and analysis platform for HMDA, CRA, redlining, fair lending, and fair servicing.
- Secure Insight: A robust, cost-efficient and airtight defense against closing and wire fraud.
- The Big Point of Sale: An efficient, low-cost POS system designed by industry professionals offering best-in-class URLA web applications.
- Transunion: A global information and insights company that makes trust possible in the modern economy.
- Winnow: A powerful database of state and federal regulatory requirements used to generate surveys and searches tailored to business type, licensing, financial product type and location of offerings built with Buckley LLP.
New capital markets providers
- Origin Bank: A relationship-focused team whose mortgage expertise provides warehouse lines of credit tailored to fit your unique business needs.
- ServiceMac: An independent sub-servicer offering lenders, investors and other mortgage servicers personalized solutions that span the mortgage lifecycle.
Further strengthening the Lenders One Cooperative, Lenders One welcomes Regional Directors Lindsay Anders, CMB and Marty Jennings, as well as VP of Strategy and Operations Dimitrios Georgakakis, MBA.
“We are thrilled with the tremendous growth that we have seen over the past year across all areas of the cooperative amid the stresses on the industry and a pandemic,” said Justin Demola, CMB, President, Lenders One. “We are also excited about the number of active projects in our pipeline that should continue to help members improve their profitability and better compete against larger well-funded mortgage lenders. I am excited for what is to come.”