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Press release from Business Wire

Lenders One® Names Industry Veteran Jeffrey McGuiness as New CEO

Wednesday, March 14, 2012

Lenders One® Names Industry Veteran Jeffrey McGuiness as New CEO11:39 EDT Wednesday, March 14, 2012 ST. LOUIS (Business Wire) -- Lenders One Mortgage Cooperative, a national alliance of community mortgage bankers, correspondent lenders and suppliers of mortgage products and services, has named Jeffrey R. McGuiness as its new CEO. McGuiness assumes this position after former CEO and co-founder, Scott Stern, announced last month he would leave the company to pursue other entrepreneurial opportunities. McGuiness has more than two decades of experience in the financial industry, with particular emphasis in building correspondent, retail and direct to consumer operations. Most recently, McGuiness was executive vice president of consumer banking and originations at St. Louis-based Aurora Bank, managing the bank's consumer deposit and mortgage business units. Prior to joining Aurora, he was executive vice president of direct-to-consumer lending at American Home Mortgage. McGuiness also was with CitiMortgage for seven years in multiple senior management positions, including managing director of correspondent lending. “I am confident that Jeff's extensive experience in mortgage operations will serve him well as he guides Lenders One into the future,” said departing CEO Scott Stern. “Jeff will build on the success of Lenders One and constantly strive to find new and innovative ways to offer our members the services and products they need to succeed.” After a thorough search, McGuiness was selected based on his comprehensive industry experience and demonstrated leadership skills. "I cannot think of a better choice than Jeff to lead Lenders One through these complex and challenging times,” said Lenders One Advisory Board member Stephen M. Calk, Chairman and CEO of Kansas-based National Bancorp Holdings, a member of the cooperative. “The combination of his correspondent, retail, investor, secondary market and regulatory experience is unparalleled. Jeff's leadership experience and acute understanding of the needs of our members and the demands of today's investors will be critical to the success of our cooperative now and in the future." About Lenders One Mortgage Cooperative Lenders One (www.LendersOne.com) was established in 2000 as a national alliance of mortgage bankers, correspondent lenders and suppliers of mortgage products and services. The St. Louis-based company originated more than $106 billion in mortgages in 2011 and is ranked as one of the largest retail mortgage originators in the U.S. Its mortgage productivity system additionally allows members to close more loans, satisfy continuing education requirements and market themselves more powerfully. Lenders One, now more than 220 lender members strong, is a subsidiary of Altisource Portfolio Solutions S.A. About Altisource™ Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a provider of services focused on high-value, technology-enabled, knowledge-based solutions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. Additional information is available at www.altisource.com. Investor Contact:AltisourceWilliam B. Shepro, +352 2469 7901Chief Executive OfficerWilliam.Shepro@Altisource.luorPress Contact:Lenders OneKristi Kovalak, 314.292.7937Director of MarketingKkovalak@LendersOne.com