Lenders One Launches L1 Insurance for Homeowners and Automobile Insurance

EL PASO, Texas, May 22, 2024 (GLOBE NEWSWIRE) -- 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.

Source: Altisource Portfolio Solutions S.A.