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Lenders One Alliance of Lenders Picks Avista Solutions as First Loan Origination Software Partner
Avista Solutions, a leader in web-based mortgage loan origination software (LOS), announces its partnership with Lenders One as the first LOS partner to be selected by the St. Louis-based national alliance of mortgage bankers. Lenders One is comprised of 125 lender members nationwide, producing from $100 million to $3 billion in mortgages annually. Collectively Lenders One members account for $40 billion in yearly production. PR9.NET September 16, 2008 - Columbia, SC - Avista Solutions, a leader in web-based mortgage loan origination software (LOS), announces its partnership with Lenders One as the first LOS partner to be selected by the St. Louis-based national alliance of mortgage bankers. Lenders One is comprised of 125 lender members nationwide, producing from $100 million to $3 billion in mortgages annually. Collectively Lenders One members account for $40 billion in yearly production. Lenders One utilizes the combined strength of its members to help increase revenue and minimize expenses for independent mortgage bankers. Lenders One is on track to reach its goal of 200 members, which they believe will be an ideal size to maximize high levels of service and value to their members. One of the benefits of the alliance is to provide members access to trusted partners, with discounted rates and preferred services which might otherwise have only been accessible to larger lenders. Lenders One has national partnerships with major investors as well as a number of leading product and service providers. Now, Lenders One has selected Avista Solutions as its first LOS partner, offering members special pricing and the benefits of Avista‟s advanced, web-based system. Picking technology partners can be tricky, according to Luke Pille, Lender One‟s executive in charge of national programs. "We understand that in today‟s marketplace, members aren‟t always in a position to spend a fortune for the best technology solutions," he explains. "Among the things we liked about Avista is that it is web-based, it includes end-to-end loan origination, loan product eligibility and pricing, as well as imaging functionality, and has a pricing model that works for lenders who want to pay on a per-loan basis. Our members employ all of the origination methods, and as a multi-channel system, Avista works for all of them." A diverse membership with a variety of business models can present challenges to the cooperative, Pille explains. "We really liked the flexibility that Avista affords our members and members are going to appreciate the absence of the typical large up-front cost for origination technology." It certainly did not hurt that several Lenders One members were already Avista clients, either. "They gave us great input," Pille says. "We were especially impressed that Avista had won the prestigious Help Desk Award last year, which confirmed what our members had already told us about the excellence of Avista‟s customer service and technical support." In addition, Avista was named one of the "Top 50 Technology Providers" to the mortgage industry for the second straight year. "We like to deal with „Best in Class‟ companies," Pille adds, "And Avista was our first choice as an LOS to offer to our members." "Lenders One is a classic example of the effectiveness of joining forces to receive benefits from economies of scale," says Mark Phlieger, Avista Solutions‟ CEO. "Their members are looking to increase revenues and decrease expenses, and their combined ability to deliver volume allows mid-size players to receive the same benefits as the really big lenders. As Lenders One works toward reaching its goal of having 200 members, we look forward to growing right along with them. This is one organization to watch." # # #
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About Avista Solutions Avista Solutions is a financial services software company that combines years of mortgage industry experience with powerful technology skills to deliver integrated mortgage origination solutions to lenders. Avista's web-based wholesale, correspondent, retail, consumer direct, and product pricing and online lock platforms are designed to streamline the origination process, increase loan production, reduce operating costs and improve customer service. |
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