SOURCE: Altisource Portfolio Solutions, S.A.

Altisource Portfolio Solutions, S.A.

March 03, 2016 09:00 ET

Lenders One Adds Plaza Home Mortgage, Inc. as a Preferred Investor

Plaza Home Mortgage to Provide Repurchase Protection to Members at No Additional Cost

ST. LOUIS, MO--(Marketwired - March 03, 2016) - The Lenders One® Mortgage Cooperative, a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services, announced today that Plaza Home Mortgage, Inc. ("Plaza") is a new preferred investor to the Cooperative. Lenders One members are now invited to apply to Plaza for approved correspondent status and, upon approval, Plaza will offer them its full suite of products. 

As an additional benefit, Plaza will provide repurchase protection to members by utilizing the CastleLine® Certified Loan™ Program on all loans purchased and at no additional cost to the member. The Program provides protection from loan manufacturing defects such as underwriting errors, fraud and misrepresentations, including defects from compliance, miscalculation of income, occupancy, undisclosed debts and appraisal issues.

Plaza has been an industry leader in the mortgage business since 2000, serving its communities through both the wholesale and correspondent channels. This partnership of two industry leaders will bring a wealth of value to both Plaza and the members of Lenders One.

"Plaza is a market leader that continues to demonstrate a strong commitment to delivering quality mortgage loans and to protecting both its investors and correspondent sellers," said Daniel T. Goldman, Interim Chief Executive Officer of Lenders One.

Michael R. Fontaine, Executive Vice President and Chief Financial Officer of Plaza, shared this sentiment and said, "We are delighted to be partnering with one of the largest mortgage platforms in the country. Lenders One provides an environment for members and investor partners to grow together, and Plaza's full range of products combined with the protection of the CastleLine® Certified Loan Program will provide the members with both great execution and purchase certainty."

About Plaza Home Mortgage, Inc.

Plaza is a privately-owned, full-service Wholesale and Correspondent Mortgage Lender founded in 2000. Headquartered in San Diego, California, Plaza maintains Operations Centers and employs staff nationwide. The company offers a variety of simple, affordable financing options designed to meet the needs of the majority of brokers and borrowers, such as Conventional Fixed rate, Conventional ARM, FHA, VA, Reverse Mortgages and non-conforming loans. Plaza is dedicated to building quality, long-term relationships with its customers by offering comprehensive programs and exceptional customer support. For more information, visit www.plazahomemortgage.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 collectively ranking as one of the largest retail mortgage origination entities 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 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.

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