Industry demand for outsource services fuels increased underwriting, due diligence, other services
ATLANTA, Oct. 25, 2010 – LenderLive Network Inc., a provider of business process outsourcing and technology to the financial industry, today announced at the Mortgage Banking Association’s 97th Conference and Expo that the company has experienced significant growth in its component services due to lenders and servicers recognizing the value of outsourcing certain components of their business, particularly given the current challenges in the mortgage industry.
As the mortgage industry works to rebuild after the credit crisis of 2008, many companies are seeking innovative solutions designed to increase quality, reduce costs, enhance capacity planning and leverage sophisticated technology.
"Our component services allow us to offer very customized solutions, assisting everyone from new entrants to reentrants," said Rick Seehausen, president and CEO of LenderLive. "LenderLive gives these companies the opportunity to scale their operations and improve operational performance for a fraction of the cost to build internally."
Most of the growth in LenderLive's component services has been in contract underwriting, quality control and closing coordination. Additionally, the company provides stand-alone document preparation and title services, which are also experiencing increased demand.
For those companies requiring more than a single component service, LenderLive offers comprehensive origination services that provide a turnkey solution for financial institutions seeking to outsource all or most of the origination functions.
Through both component and comprehensive services LenderLive has also assisted loan servicers with loan modification and short sale fulfillment solutions for more than 1.6 million homeowners.
"Our component services offerings have changed the way mortgage companies are approaching their business needs," Seehausen said. "This allows our clients the ability to focus on their core competencies and gain rapid, sustainable improvement in the areas of their business that provides a competitive advantage. By outsourcing the components of change to an experienced service provider, our clients can better manage the operational risks inherent to the new era of mortgage lending."
About LenderLive Network Inc.
LenderLive is a Denver-based mortgage service provider. Since 1999, the company has provided the single-family mortgage loan industry with private-label service and technology solutions to originate, process, underwrite and close loans on behalf of its clients. This continued support to lenders and servicers brought LenderLive recognition in 2009 as a Top 50 Mortgage Service Provider by Mortgage Technology Magazine. Through comprehensive solutions or component services, LenderLive offers the people, technology and processes that allow its clients to focus on their core business while LenderLive provides their mortgage loan fulfillment needs.