National lender focused on relocation industry selects proven mortgage service provider to continue to produce quality loan packages

DENVER, Nov. 8, 2011 – LenderLive Network Inc., an end-to-end mortgage services provider, announced it has experienced a 150 percent increase in its closing and post-closing volume since February 2011. Mortgage companies continue to look for ways to grow their business while remaining compliant, and the delivery of quality loan packages to the secondary market continues to be a primary goal. Through its closing services, LenderLive provides this quality assurance to companies such as national lender GenEquity Mortgage.

"With application volume on an upswing due to factors such as low interest rates, our third-party support allows lenders like GenEquity to scale operations as the market dictates and better manage their closing and post-closing needs," said Rick Seehausen, CEO of LenderLive.
"And, it is imperative that quality loan packages be successfully delivered to the secondary market in this and any regulatory environment."

GenEquity, which offers corporate mortgage services to the relocation industry, selected LenderLive to support the lender’s closing and post-closing activity to receive the additional peace of mind that its loan packages are consistently accurate, qualified and investor ready.

"We were lacking the necessary manpower and expertise to effectively manage this business on our own," said Stephen Crispin, CRP, vice president of mortgage services at GenEquity. "LenderLive understands lenders’ timeframe requirements and is highly focused on ensuring their closing and post closing costs are accurate."

LenderLive’s closing coordination service ensures accuracy of the entire loan file and eliminates the risk of non-saleable loans by validating all source documents, reviewing the HUD for accuracy, performing compliance checks with state and federal high cost/predatory lending laws, preparing documents in accordance with the underwriting, lock and investor requirements and performing condition reviews and funding approval prior to disbursement.

Chrispin cited LenderLive’s knowledge and conservative approach to compliance with regulations as some of the influencing factors that make the relationship work.

"There are times when an outsourcing relationship can be challenging, but in no way is that the case with LenderLive," Chrispin explained. "The company is an integral part of our team. LenderLive’s collaborative approach helps make this process seamless and has been vital to our overall success."

About LenderLive Network Inc.

LenderLive is a domestic-based mortgage services provider. Through its five divisions—origination services, conduit services, document services, settlement services, and loan servicing—LenderLive offers the people, technology and processes to support our clients’ origination, servicing and loan purchase operations. From large-scale, centralized operations centers, the company provides services to financial institutions of all sizes on a national basis. With tens of millions of transactions processed through its expansive service offering, LenderLive offers the vision, experience and innovation on which financial institutions can rely.

Headquartered in Dallas, GenEquity Mortgage has been serving the needs of relocating employees since 2003. With leadership that is experienced in both the mortgage and relocation industries, GenEquity is uniquely positioned to offer the most choice and value to its clients and customers. GenEquity is a subsidiary of Paragon Global Resources. Paragon Global Resources is the parent company of various wholly owned subsidiaries including Paragon Relocation, Paragon Decision Resources and Paragon GeoImmigration. For more information, visit www.genequity.com.