Lenders One Brings Together Its Members and Providers to Help Members Increase Profitability During Challenging Markets

Core Insights - Lenders One Cooperative (L1) is hosting its annual summit in Los Angeles, focusing on strengthening its member network and enhancing service offerings [1][4] - Since March 2023, L1 has added 39 new members and improved its direct solutions to support its mission of maximizing revenue and reducing costs for its members [2][5] Company Developments - Lenders One has introduced various direct solutions including credit reporting, flood zone determinations, and homeowners insurance to enhance member services [2] - The launch of L1 Credit, a full credit reporting agency, provides members with essential credit-related products necessary for loan manufacturing [2] - L1 Flood offers flood zone determinations accepted by major mortgage investors, ensuring compliance with the National Flood Insurance Program [2] - L1 Insurance, in collaboration with CastleLine and Policygenius, provides competitive homeowners insurance quotes, streamlining the loan closing process [2] Capital Market and National Program Solutions - Lenders One has expanded its Capital Markets and National Programs offerings, adding three new Preferred Providers: FICO, OptiFunder, and Truv [3] - FICO provides a standard measure of consumer credit risk used by 90% of top US lenders, enhancing risk management [3] - OptiFunder offers a Warehouse Management System that optimizes warehouse allocation and reduces finance expenses for originators [3] - Truv automates verification of income and employment, now approved as a Freddie Mac AIM provider, improving efficiency in mortgage lending [3] Industry Context - Lenders One members collectively originated approximately $485 billion in mortgages during 2022, making it the largest retail mortgage entity in the U.S. [5] - The cooperative aims to help its members navigate the challenging mortgage origination environment by providing innovative solutions and support [2][4]