Partnership Between FLDI and Prime Alliance
Now Provides Credit Unions With 3,000
Flood Determinations Per Month
-Partnership expands number of users of integrated flood services to include 34 credit unions-
AUSTIN, Texas, August 31, 2004 - First Lenders Data, Inc. (FLDI), an Austin, Texas-based technology, data and bundled services provider, announced today that the company is now providing flood determination services to 34 credit unions, which request approximately 3,000 flood determinations per month through a partnership with Prime Alliance Solutions, Inc. (Tukwila, Wash.), a national provider of mortgage lending solutions to credit unions and credit union organizations.
FLDI and Prime Alliance formed the partnership in April 2003 and later offered aggregate volume discount incentives to all Prime Alliance members starting in February 2004. The alliance enables credit unions to access Prime Alliance's flood determination service, Prime Flood, through Prime Alliance's proprietary Loan Officer Workbench platform and also through a private-labeled version of FLDI's FirstClose platform.
"We use FLDI and Prime Alliance's flood determination services through the Prime Flood platform because of the high level of automation and the fact we wanted the convenience of being able to order zone determinations either through Workbench or the Internet," said G. Kevin Green, operations manager of Greater Nevada Mortgages Services. "Our use of the Prime Flood platform helps us focus more attention on our core business of serving our members."
"By working together, Prime Alliance and FLDI are able to provide flood determination services that are competitively priced using a tiered system that rewards lenders with volume discounts," said Joe Brancucci, president and CEO of Prime Alliance. "The cost-savings and seamless integration offer credit unions a tool to boost efficiencies in the way they do business."
FLDI works on the behalf of lenders to deal directly with mortgage technology vendors to make technology solutions more efficient and cost-effective. FLDI's relationships with technology vendors offer customers a wide variety of mortgage solutions through a single point, FLDI's FirstClose platform.
"In the current business environment, there is increased competition from lenders that are expanding the number of services that can attract business away from credit unions," said Tedd Smith, CEO of FLDI. "FLDI's alliance with Prime Alliance is an effective solution for credit unions interested in practical, cost-saving solutions that enable them to better compete."
About Prime Alliance Solutions
Prime Alliance solutions, Inc., a credit union service organization, is a national provider of mortgage lending solutions to credit unions and credit union organizations , serving 63 credit unions. It also serves credit union service organizations representing approximately 600 credit unions nationwide. Last year, the Prime Alliance network accounted for 23 percent of all credit union mortgage lending. For more information about Prime Alliance, refer to the Web site at www.primealliancesolutions.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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