Justin Demola, CMB Promoted to Lenders One President

Rhea-AI Summary

Altisource Portfolio Solutions S.A. has appointed Justin Demola as President of Lenders One, a national alliance of independent mortgage bankers. Demola, who has nearly 30 years of experience in the mortgage industry, previously served as Managing Director at Lenders One. He succeeds Brian Simon and aims to bolster the cooperative's strategic direction during challenging market conditions. Under his leadership, Lenders One will focus on delivering exclusive solutions to enhance member competitiveness and profitability, building on its 20-year foundation.

Positive

• Justin Demola's extensive industry experience could strengthen Lenders One's competitive position.
• Demola's leadership is expected to maintain and grow member profitability amidst market challenges.

Negative

• None.

Mortgage industry veteran to lead the cooperative

LUXEMBOURG, Feb. 18, 2021 (GLOBE NEWSWIRE) -- Lenders One Cooperative, a national alliance of independent mortgage bankers, today announced that Justin Demola, CMB has been promoted to President of Lenders One. Mr. Demola will be responsible for the day-to-day operations and strategic execution of the cooperative.

Mr. Demola joined Lenders One^® in 2019 as Vice President, Sales and most recently served as Managing Director. He has nearly 30 years of mortgage, consulting and business development experience and extensive leadership experience at independent mortgage banks, including Chief Operating Officer of MLB Residential Lending, LLC and President of The Hills Mortgage and Finance Company, LLC. Mr. Demola is a licensed mortgage loan originator and Certified Mortgage Banker (CMB).

In addition to his role at Lenders One, Justin serves as resident CMB instructor for the Mortgage Bankers Association (MBA)’s CMB Final Prep Course, sharing his insight and support with current students. Justin serves on the Mortgage Bankers Association of New Jersey Board of Directors and is a member of the MBA MORPAC Committee.

“Justin brings deep industry experience to Lenders One as a seasoned mortgage banker and leader,” said William B. Shepro, Chief Executive Officer of Altisource^® and a member of the Board of Directors of Lenders One. “I thank Brian Simon, CMB who leaves Lenders One in a strong position, and I am confident that Justin will carry the momentum and provide tremendous value to our network of members and providers.”

“I am extremely excited to take on this role during a critical time in our industry,” said Mr. Demola, President of Lenders One. “Over the last year, we’ve seen our members’ businesses grow exponentially, though that hasn’t come without hurdles. Lenders One has a unique opportunity as a trusted consultant for our members to offer our own exclusive solutions and those of the providers in our network to help improve our members’ competiveness and grow their earnings. I look forward to building upon the 20-year foundation of Lenders One.”

About Lenders One^® Cooperative

Lenders One (LendersOne.com) was established in 2000 as a national alliance of independent mortgage bankers, correspondent lenders and suppliers of mortgage products and services. Participants on the Lenders One platform originated approximately $320 billion of mortgages during 2019, collectively ranking as one of the largest retail mortgage 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 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 it serves. Additional information is available at Altisource.com.

Source: Altisource Portfolio Solutions S.A.

Investor Contact: Michelle D. Esterman Chief Financial Officer 770-612-7007 Michelle.Esterman@altisource.com

Press Contact: Kevin Hosey Senior Manager, Marketing 770-612-7007 Kevin.Hosey@altisource.com

FAQ

Who is the new President of Lenders One?

Justin Demola has been appointed as the new President of Lenders One.

What experience does Justin Demola have?

Justin Demola has nearly 30 years of experience in the mortgage industry, including roles as COO and President at various firms.

What are Lenders One's plans under Justin Demola's leadership?

Lenders One plans to focus on providing exclusive solutions to improve member competitiveness and earnings.

What position did Brian Simon hold at Lenders One?

Brian Simon was the previous President of Lenders One before Justin Demola.

What is the significance of Justin Demola's appointment for investors?

Demola's appointment may positively impact Lenders One's performance and strategic direction, benefiting investors.