Austin, Texas (PRWEB) January 19, 2016
First Lenders Data, Inc. (FirstClose) is pleased to announce that the company has integrated its patent pending FirstClose Report™ into MeridianLink’s LoansPQ™ Consumer Lending Loan Origination System for second mortgages, home equity loans, and HELOCs. The integration enables LoansPQ users to order instantaneous bundled reports that deliver credit, flood, valuation, title, and tax status with $500,000 of A+ XIII rated lien protection insurance on every loan…all delivered within 30 seconds…within one report… all within LoansPQ.
A user not only orders the report from within LoansPQ, but the completed report is delivered back to the user in LoansPQ so the user never needs to leave the system. The integration eliminates duplicate data entry on the front- and back-ends, while significantly reducing the chance for human error by auto-populating data.
Customized to the lender’s specific needs, The FirstClose Report™ provides lenders with an instantaneous and warranted owners and encumbrance property report, a life of loan flood certification from ServiceLink or other large national flood providers, credit data and FICO scores, the current market value of the property, instant interior and exterior photos of the property, a copy of the deed or mortgage, liens, judgments, transaction history, tax status, tax assessed values, fraud alerts, OFAC terrorist alerts, cur-rent mortgages and current balances, recordable legal descriptions, vesting information, and more. With options to add property condition reports, desktop valuations, 2055 drive-by appraisals, 1004 full appraisals, and full ALTA Title insurance for larger loan amounts and lower FICO scores, The FirstClose Report™ is designed to satisfy all risk and compliance requirements placed on lenders.
Lenders utilizing The FirstClose Report™ are able to reduce closing times from 30+ days to less than 5-10 days, while reducing costs by as much as 75% and decreasing risk with $500,000 of E&O insurance per loan. The solution enables lenders to offer their consumers a better “application to closing” experience. Such drastic reductions in time, money, and risk enhance any lender’s ability to satisfy their customers and compete in an arena filled with additional compliance requirements and red tape imposed upon lenders.
“We are excited to have integrated our FirstClose Report™ with MeridianLink’s LoansPQ. It’s exciting to collaborate with such an innovative partner who recognizes the incredible benefit of providing every-thing lenders need within 30 seconds and at a fraction of what they pay today. Our primary goal in help-ing lenders is to reduce their closing times, increase their efficiencies, and drastically reduce their cost and risk. The integration with LoansPQ helps us do it all,” said Tedd R. Smith, CEO of First Lenders Data, Inc. (FirstClose).
For more information about FirstClose and to receive a sample report visit http://www.FirstClose.com.
About FirstClose and First Lenders Data, Inc.
FirstClose is a service of First Lenders Data, Inc. (FirstClose), a privately held company based in Austin, Texas. Founded in 2000, the company provides cutting-edge technology solutions to mortgage lenders nationwide. FirstClose™ is a proprietary software platform designed to deliver mortgage lenders end-to-end solutions from loan application to closing. FirstClose also provides the most robust, yet user friendly vendor management system available. When used in its entirety, duplicate data entry is completely eliminated.
FirstClose is home of The FirstClose Report™, the first instantaneous and guaranteed owners and en-cumbrance property report with a life of loan flood certification, current market value, interior and exterior photos of the property, copy of the deed, liens, judgments, transaction history, subject property data, tax information, and lien protection insurance, all delivered within seconds, within one report.
In addition to The FirstClose Report™, FirstClose offers lenders their choice of nationally recognized providers as well as local vendors. Services available include; credit reports, flood determinations, automated valuation models (AVMs), guaranteed AVMs, AVM validation, desktop valuations, 2055 drive-by appraisals, full 1004 appraisals, limited title searches, owners and encumbrance reports, legal and vesting reports, lien protection insurance, lien reports, tax status, title insurance, income verification, tax tracking services, document preparation, fraud detection, closing services, recording services, and more. For more information on FirstClose products and services, visit the company’s web site at http://www.FirstClose.com or call 1-877-677-3282.
MeridianLink, Inc., developer of the industry's first multi-channel account opening and loan origination platform, is a leading provider of enterprise business solutions for 20,000+ financial service organizations. The company’s passion for excellence is reflected in their web-based credit reporting, lending and new account opening/deposit technologies, which all enjoy solid reputations as being cutting edge, reliable and affordable. Based in Costa Mesa, California, MeridianLink is committed to creating smart solutions that deliver real value. For more information, visit http://www.meridianlink.com.
Timothy R Smith
Chief Revenue Officer
First Lenders Data, Inc.
6618 Sitio Del Rio Blvd, E-101
Austin, TX 78730
Trademarks: MeridianLInk and LoansPQ™ are trademarks of MeridianLink in the U.S. All other trade-marks, service marks, and product or service names are trademarks or registered trademarks of their respective owners.