FirstClose™ Announces Polish & Slavic FCU as Newest Customer
AUSTIN, Texas -- FirstClose™, a service of First Lenders Data, Inc. (FLDI) , an Austin, Texas-based provider of bundled mortgage settlement services, announced today that it has added Polish and Slavic Federal Credit Union, a $1.1 billion credit union with over 70,000 members, to its list of growing customers. Polish & Slavic FCU will be utilizing the FirstClose platform to obtain Flood Zone Determinations from Fidelity, LandAmerica, and Stewart Title, Automated Valuation Models (AVMs) from Freddie Mac, First American, Fidelity, and others, Tax Tracking Services, and an instant title report alternative called Equiguard.
“ We are please to be using the FirstClose™ platform to order many of our mortgage settlement services, ” said David W. West, Chief Lending Officer for Polish & Slavic FCU. “ By combining niche home equity products with traditional services, we have been able to cut the origination cost of our HELOC ' s from around $1,500.00 to about $250.00. The fees are lower, our processors are more efficient, and we can close loans faster. Another plus to using FirstClose is their emphasis on customer service. They help us achieve our primary goal of providing our members with lower fees and better overall service. ”
Polish & Slavic FCU has been using the FirstClose™ web based vendor management system for the past three months. The elimination of duplicate data entry combined with the cost savings and niche home equity products provide Polish and Slavic FCU and its members with measurable benefits and results.
“ We are very excited about the actual dollar savings Polish & Slavic FCU is indicating they derive from using our products and services, ” said Tedd R. Smith, President and Chief Executive Officer of First Lenders Data, Inc. “ Saving members $1,250 represents over 80% savings to the actual member. That kind of savings, coupled with simplified closings, should put a smile on any credit union member. ”
For more information about FirstClose™, visit www.FirstClose.com or contact Van G. Hill, National Accounts Manager, at 877-677-3282. You may also e-mail Van.Hill@FirstClose.com .
About FirstClose™ and First Lenders Data, Inc. (FLDI)
FirstClose ™ , a service of First Lenders Data Inc. (FLDI), is an Austin, Texas-based provider of settlement service solutions to the mortgage lending industry. FirstClose offers its products and services through a proprietary web-based technology platform. In addition to a vast array of mortgage settlement services, FirstClose™ offers loan origination systems with automated underwriting and automated decisioning capability. Services available include credit reports which feed the automated underwriting and decisioning systems, automated valuation models (AVMs), guaranteed AVMs, AVM validation and back-testing, appraisals, gap valuation services, BPOs, flood determinations, flood insurance, property and casualty insurance, limited title searches, owners and encumbrance reports, legal and vesting reports, lien protection insurance, lien reports, title insurance, income verification, tax tracking, document preparation, fraud detection, closing services, recording services, mortgage leads, foreclosure data, and more. The FirstClose™ platform also enables lenders to integrate with legacy and existing front-end loan origination systems to use as a single point of contact. For more information on FirstClose™ products and services, visit the company ' s web site at www.firstclose.com or call 1-877-677-3282.
About Polish and Slavic Federal Credit Union
Founded in 1976 by a group of Polish immigrants to help other ethnic Poles obtain mortgages, the Polish & Slavic Federal Credit Union now has 10 branches in New York and New Jersey, and an operations center in Fairfield, NJ. The 31-year-old credit union, with more than $1.1 billion in assets, serves 70,000 members of the Polish and Slavic communities throughout New York and New Jersey. The credit union, which is the largest ethnic credit union in the United States, also operates ATMs at the National Shrine at Doylestown, PA.
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