FirstClose™ Announces Strategic Alliance With America’s Home Rescue™
Austin, TX, and Las Vegas, NV - April 22, 2008 – FirstClose, a service of First Lenders Data, Inc., an Austin, Texas-based provider of technology services for the mortgage lending industry, announced today that it has formed a strategic alliance with America’s Home Rescue, LLC to provide technology services designed to significantly streamline the pre-foreclosure and Short Sale process. The alliance provides unique benefits to homeowners, real estate agents, and lending institutions alike.
America’s Home Rescue provides advanced training for real estate and mortgage professionals to learn the precise manner of submitting and closing Short Sale transactions to help homeowners avoid foreclosure. America’s Home Rescue has trained over 12,000 real estate professionals and is working exclusively with FirstClose to help automate documents, enhance communication, and fulfill settlement services for all parties involved.
In addition to providing lenders with one stop access to the leading vendors for flood determinations, appraisals, and title work, FirstClose has developed proprietary software that automates key components of the short sale document submission process to the nation’s largest lenders. Companies like Wells Fargo, Chase Bank, and Bank of America require specific documents to be submitted by the homeowner in order to complete the short sale transaction. It can be extremely cumbersome to collect and organize all documents in the precise manner required by each financial institution. As such, FirstClose has developed sophisticated software that enables real estate agents to create, print, and upload all of the required documents for each lending institution, all at the touch of a button. Once all required documents have been collected, the agent simply uploads the documents into the FirstClose system, where they are stored, organized, and processed through quality control checks and balances. Lenders subsequently receive e-mail notifications alerting them when new docs have been accurately submitted.
FirstClose is also developing software that helps homeowners and lenders find real estate agents that have been trained in Short Sale transactions by America’s Home Rescue. Helping homeowners and lenders find qualified agents and streamlining the document submission and communication processes are the first steps in a series of technology services FirstClose and Americas Home Rescue are providing to the mortgage lending and real estate industries.
“Establishing an alliance with FirstClose represents a significant movement toward a unified effort in enabling lenders to streamline their loss mitigation efforts,” said Michael Spickes, Chief Executive Officer, America’s Home Rescue, LLC. “This relationship will serve to drastically reduce the time delays, inefficiencies, and costs associated with the pre-foreclosure process.”
“Part of the backlog in the loss mitigation process and a significant contributor to why so many homeowners are ultimately going to foreclosure is due to a breakdown in communication between borrowers and lenders,” said Stacy Spickes, President, America’s Home Rescue, LLC. “Training everyone involved and making communication more efficient helps homeowners and lenders while reducing the number of properties that go into foreclosure.”
“We are thrilled that America’s Home Rescue has selected FirstClose as its exclusive technology and settlement services portal,” said Tedd R. Smith, President and Chief Executive Officer of First Lenders Data, Inc. “The industry is in desperate need of a process to help reduce the number of foreclosures and we believe our systems and services can have a dramatic impact on the economy.”
About FirstClose™ and First Lenders Data, Inc.
First Lenders Data, Inc. is an Austin, Texas-based technology provider for the mortgage origination and settlement services industry. FirstClose offers loan origination systems with automated underwriting and automated decisioning capability. Additional services 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, hazard insurance, property reports, legal and vesting reports, lien protection insurance, title insurance, income verification, tax tracking, document preparation, fraud detection, closing and recording services, mortgage leads, foreclosure data, and more. For more information about FirstClose, visit www.FirstClose.com or contact Van G. Hill, National Accounts Manager, at 877-677-3282 or Van.Hill@FirstClose.com.
About America’s Home Rescue™
America’s Home Rescue, LLC is a team of licensed real estate professionals formed in 2002, focused primarily on helping homeowners in pre-foreclosure situations. They are dedicated to educating homeowners and real estate agents on available options to avoid foreclosure. The company has saved hundreds of homeowners from foreclosure by properly educating them on the pre-foreclosure options and successfully facilitating a Short Sale, when indeed the home needs to be sold. It is imperative that homeowners know their options and work with a trained team of real estate professionals to effectively facilitate a Short Sale. In an effort to address this need, America’s Home Rescue has trained over 12,000 real estate professionals and continues to build its network to serve as a resource for homeowners, agents, and lenders. For more information on America’s Home Rescue’s Training and Resources, visit the company’s web sites at ShortSaleSolutions.biz or AmericasHomeRescue.com, or call 1-888-699-9222.
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