FLDI and UPF Form Strategic Alliance to Offer Lenders Enhanced Financial Services
-Tax services now available through FirstClose™ platform-
AUSTIN, Texas, Nov. 22, 2004 - First Lenders Data, Inc. (FLDI), an Austin, Texas-based technology, data and bundled services provider, announced today that it has formed a strategic alliance to provide cost-effective, bundled financial services with Spokane, Wash.-based UPF, Inc., a provider of flood, tax, reconveyance processing and other services to banks, credit unions, mortgage lenders and finance companies .
The alliance was first formed in August 2004 to offer UPF's tax service through FLDI's FirstClose™ platform, a vendor management solution that offers credit reports, automated valuation models (AVMs), insured AVMs, appraisals, flood certifications, property reports, legal and vesting reports, lien reports and income verification. The alliance also enables UPF to offer its technology solutions through a private-labeled version of the same platform.
"FLDI's vender management system simplifies the way our customers conduct business and helps share some of the responsibility for managing technology solutions," said Randy Absalonson, president of UPF. "Our alliance with FLDI is also important to lenders because it reduces technology costs and boosts profitability in the wake of the re-fi boom."
"There is a rising demand among lenders for tax and flood services and this alliance helps make these financial services more readily available," said Tedd Smith, CEO of FLDI. "We have focused our business to meet the demand for these services by working with venders like UPF, which makes lenders more competitive and better able to pass cost-savings onto their own customers."
FLDI works directly with mortgage service data providers and vendors on behalf of banks, mortgage lenders and credit unions 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 entire origination process.
About UPF, Inc.
UPF, Inc. was established in 1983 to provide lending institutions with cost-effective technology solutions. The company currently serves hundreds of banks, credit unions, appraisal companies, mortgage lending conglomerates and finance companies. UPF now offers an expanded product offering that includes tax service, flood hazard determinations, life of loan tracking, market valuations, site surveys and reconveyance processing. For more information about UPF, please visit the Web site at www.upfinc.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™ 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 their Web site at www.fldi.com.
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