First Federal Savings Bank Selects FLDI's FirstClose™ Platform
AUSTIN, Texas, August 17, 2004 - Austin, Texas-based First Lenders Data, Inc. (FLDI), a technology, data and bundled services provider that focuses on solutions for the mortgage lending and real estate industries, announced that Leesburg, Fla.-based First Federal Savings Bank has selected FirstClose™ , FLDI's bundled services platform, to manage its mortgage technology needs.
First Federal Savings Bank, which closes approximately 400 mortgage loans per month, has been a customer of FLDI since 2001, when it selected the company to provide flood certification services. In April 2004, the bank expanded its use of FLDI's services to include other flood, credit and AVM services.
"Our decision to expand our relationship with FLDI is based on our need to streamline our mortgage technology vendor management as we grow ," said Karen Hollister, vice president of Loan Operations at First Federal Savings Bank. "Due to our previous positive experience with its flood certification solution, FLDI was a proven partner for us and in utilizing the FirstClose platform, our staff is now able to devote less time to managing our technology and direct more resources toward servicing our customers and originating new mortgage loans."
"First Federal Savings Bank provides a great venue for our company to provide a maximum return on investment on the consolidation of vendor management through a bundled solution," said Tedd Smith, CEO of FLDI. "In doing so, the bank will realize a significant savings in both time and resources that will translate directly into an increase in its overall profitability."
FLDI works directly with mortgage technology vendors on the behalf of lenders to provide customers with a variety of mortgage solutions through a single point - FLDI's FirstClose™ platform. FLDI's bundled services offer a cost-effective method for lenders to manage the origination process - especially home equity loans.
About First Federal Savings Bank
First Federal Savings Bank is based in Leesburg. Fla and currently has 16 branches throughout the state. First Federal has served residents of Florida since 1934 and provides a variety of banking services to its customers.
For more information about First Federal, refer to the Web site at www.1stfederal.com.
About First Lenders Data, Inc.
First Lenders Data Inc. (FLDI) is an Austin, Texas-based provider of settlement service solutions to the mortgage lending industry. FLDI offers its products and services through its proprietary Web-based FirstClose(tm) platform. The company's product offerings include credit reports, flood certifications, AVMs and traditional valuation products, as well as title and property data services. Additionally, FLDI provides more progressive services, including hybrid and gap valuations, guaranteed AVMs and alternative lien reports.
For more information on FLDI's products and services, please visit the corporate Web site at www.fldi.com.
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