Lenders One Launches L1 Insurance for Homeowners and Automobile Insurance
May 22 2024 - 7:00AM
Lenders One® Cooperative (“L1” or “Lenders One”), a national
alliance of independent mortgage bankers, banks and credit unions,
managed by a subsidiary of Altisource Portfolio Solutions S.A.
(“Altisource” or the “Company”) (NASDAQ: ASPS), today announces the
availability of Lenders One Insurance (“L1 Insurance”), a
homeowners and automobile insurance solution offered to Lenders One
members.
L1 Insurance is a new member benefit that
provides borrowers with multiple competitive quotes which may help
to lower the total cost of homeownership, streamline the
loan-closing process and create a better borrower experience.
Through a collaboration between CastleLine Risk and Insurance
Services, a wholly owned subsidiary of Altisource, and
Policygenius, the insurance marketplace of Insurtech leader
Zinnia, members can help their borrowers quickly receive
quotes for homeowners and automobile insurance in all 50
states.
L1 Insurance integrates seamlessly with many
major loan origination systems to share relevant information with a
team of licensed insurance agents who can generate a quote for
insurance, answer questions the borrower may have, bind the policy
and send the required documents to the lender to ensure a smooth
closing.
“L1 Insurance was launched as a part of our
overall strategy to develop and deploy new products to support our
mission of helping members maximize revenue, reduce costs and
improve decision making,” said Justin Demola, CMB, President,
Lenders One. “We are excited to offer members an opportunity that
helps them remove friction in closing loan transactions and helps
their borrowers generate competitive quotes for homeowners and auto
insurance. This is one of many solutions on our roadmap designed to
create value for our members’ borrowers, giving them a competitive
edge in their local marketplace.”
To learn more about L1 Insurance, visit
www.lendersone.com
About Lenders One
Cooperative
Lenders One (LendersOne.com) was established in
2000 as a national alliance of independent mortgage bankers, banks,
credit unions and is dedicated to helping its members improve their
profitability by reducing costs, maximizing revenue and sharing
best practices. Lenders One members originated approximately $372
billion of mortgages during 2023, collectively ranking as the
largest retail mortgage entity in the U.S. Lenders One is managed
by a subsidiary of Altisource Portfolio Solutions S.A.
About
Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ:
ASPS) is an integrated service provider and marketplace for the
real estate and mortgage industries. Combining operational
excellence with a suite of innovative services and technologies,
Altisource helps solve the demands of the ever-changing markets we
serve. Additional information is available at altisource.com.
Investor Contact:Michelle D. EstermanChief
Financial Officer770-612-7007Michelle.Esterman@altisource.com |
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Press Contact:Justin Demola, CMBPresident,
Lenders One770-956-5809Justin.Demola@lendersone.com |
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Source: Altisource Portfolio Solutions S.A.
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