Settlement Provider Reports Growth in 2009

February 2, 2010

LenderLive Network Inc., a provider of business process outsourcing and technology to the financial industry, announced that 2009 brought an expansion of staff, office space and product offerings to LenderLive Settlement Services LLC (LLSS), a nationwide service provider for title, appraisal and other closing services.

“LenderLive Settlement Services has efficiently delivered sound title and closing and settlement solutions on a national scale to multi-state and regional lenders,” said Rick Seehausen, president and CEO of LenderLive. “Either bundled with LenderLive’s other mortgage fulfillment services or delivered independently, the LLSS division streamlines operations by eliminating the need to manage multiple vendors across different regions, resulting in the ability to close more loans and provide greater customer satisfaction.”

Colorado-based Ellis Financial has been a LLSS client for three years. An in-house lender for a network of Realtors, it leverages the technology and expertise of LLSS to support quick turn times and accurate documentation of title policies for mortgage refinances. Chaun Ellis, the company’s president, explained, “The support from LenderLive has allowed us to effectively adapt to varying demands in purchase and refinance activity, all without raising our costs of doing business or jeopardizing customer service.”

In preparation of 2010 RESPA changes, LLSS coordinated efforts between clients, loan investors and software providers to ensure a smooth transition to new reporting and disclosure procedures.

LenderLive, which was formed in 2006 and has corporate offices in Denver and Troy, Mich., has also increased its title production staff to accommodate the substantial demand for pre-foreclosure and loss mitigation title endorsements and recording services. LenderLive has provided outsourced fulfillment services on a significant number of loan modifications and is able to seamlessly bundle its title and recording services with these fulfillment services to help servicers reduce costs and complete more loan modifications, according to the company.

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