ST. LOUIS, MO -- (Marketwired) -- 01/13/16 --
The Lenders One®Mortgage Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services, today announced that LoanBeam has been added to the cooperative as a preferred solution. Lenders One members will now have access to a software solution that decreases inefficiencies and lowers credit risk often associated with the process of cash flow analysis when qualifying residential mortgage applicants.
LoanBeam uses sophisticated Optical Character Recognition (OCR) to read and interpret scanned tax documents, automating the process of reviewing applicants' documentation to substantiate income. The technology exports relevant data from scanned tax documents (PDFs) to an Excel file, simplifying and improving the cash flow analysis of the borrower.
"We are thrilled to join the Lenders One platform as a preferred vendor," said Wes Lazear, Managing Director for LoanBeam sales at SurePrep. "We have developed a software solution that eases the critical and time consuming process of cash flow analysis for lenders, using technology to solve for a major pain point. We look forward to helping the Lenders One membership automate and standardize the cash flow analysis process to create more efficient workflows."
"We are committed to helping lenders become more efficient in their operations by reducing the time it takes to close a loan, allowing our members to focus on growing their originations business," said Daniel Goldman, Interim Chief Executive Officer, Lenders One. "High-caliber solutions like LoanBeam are important elements in helping our members achieve these benefits. In streamlining the process of conducting cash flow and credit risk analyses, LoanBeam creates efficiencies that can translate directly to improved bottom line results for lenders."
About SurePrep LLC
SurePrep, the developer of LoanBeam, was founded in 2002 and continues to be a leader in the Optical Character Recognition (OCR) and tax document industries. SurePrep's knowledge and expertise is helping loan officers, processors and underwriters to work smarter, not harder. SurePrep's customers use LoanBeam to increase productivity and reduce credit risk through automation, increased standardization and streamlined workflow. Additional information is available at loanbeam.com
About Lenders One
®Mortgage Cooperative
Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Members of the St. Louis-based platform originated $200 billion in mortgages in 2014; collectively ranking as one of the largest retail mortgage origination entities in the U.S. Lenders One, more than 260 lender members strong, is managed by a subsidiary of Altisource Portfolio Solutions, S.A.
About Altisource
®
Altisource Portfolio Solutions S.A.(NASDAQ: ASPS) is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer-debt industries. Altisource's proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.
Investor Contact:
Michelle D. Esterman
Chief Financial Officer
+352 2469-7950
Michelle.Esterman@Altisource.lu
Press Contact:
Meredith A. Duhaime
Senior Associate, External Communications
(617) 728-5533
Meredith.Duhaime@altisource.com
Source: Altisource Portfolio Solutions S.A.
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