In 2010, mortgage technology and services firm Altisource acquired Lenders One, a cooperative for independent mortgage bankers. Since then, the cooperative has evolved into a strong and growing brand with some of the leading independent mortgage bankers in the country.
Then in September of last year, Altisource introduced a new cooperative called Wholesale One, which provides a platform for mortgage brokers, wholesale lenders and related vendors to provide quality loans to consumers nationwide. This cooperative assists mortgage brokers and other third-party originators with tools to improve their businesses.
Now the company has introduced yet another new cooperative for the real estate investor market called Residential Investor One. This new cooperative is designed to deliver savings and efficiencies for its members, which range from individual residential real estate ‘fix and flippers’ to institutional investors managing larger home portfolios.
As per a company press release, members of this new cooperative will have access to a broad range of valuable services including the following:
- Access to capital to help investors renovate properties and expand portfolios;
- Discounted rehabilitation, maintenance and ancillary products and services (e.g., flooring, paint, appliances, office supplies, technology, shipping);
- Outsourced property management services;
- Reduced transaction costs to buy and resell homes; and
- A community peer group to build relationships and share best practices.
‘The residential rental and resale investment market historically has been fragmented, lacking the buying power to reduce the costs for the products and services needed to buy, manage, improve and sell properties,’ says David Wisen, senior vice president cooperatives and origination services for Altisource. ‘We have applied the expertise in obtaining best in class services that we developed with our mortgage banking cooperatives, Lenders One and Wholesale One, and applied that to the residential home investor market. Members will benefit from working with our preferred vendors including Altisource with its end to end real estate and renovation services.’
‘Residential Investor One is providing investors the bargaining power and access to resources that were not previously available on a single platform,’ adds Tom O'Sullivan, CEO of Residential Investor One. ‘Together, this community can share best practices and optimize their investments. We look forward to helping our members grow their portfolios and increase their profits.’