Lockheed Federal Credit Union Selects Licensed Version of FLDI's FirstClose™ Platform
-Platform provides cost-effective AVMs and flood determinations-
AUSTIN, Texas, Dec. 6, 2004 - 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 Burbank, Calif.-based Lockheed Federal Credit Union (LFCU) has selected a private-labeled version of FirstClose™ , FLDI's bundled services platform to manage its mortgage technology needs.
In June, LFCU (assets $2 billion) selected the private-labeled version of FirstClose through Prime Alliance Solutions, Inc. (Tukwila, Wash.), a national provider of mortgage lending solutions to credit unions. LFCU is able to access FLDI's and Prime Alliance's PrimeFlood system for flood determination services, but FLCU also accesses FLDI's cascading AVM system for automated valuation models (AVMs).
"We selected the platform as part of a bundled services package because we valued the ability to order several technology services through a single source," said Rick Jarrar, vice president of Lending at LFCU. "Using a single vendor saves us time and money and enables us to pass along the cost-savings to our members."
"Credit unions throughout the United States are looking for creative ways to enhance their own competitiveness and better serve members," said Tedd Smith, CEO of FLDI. "Our technology platform offers credit unions like LFCU a way to cut costs and spend less time dealing with vendors."
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.
About Lockheed Federal Credit Union
Lockheed Federal Credit Union (LFCU) is headquartered in Burbank, California and has assets worth $2 billion. Since 1937, the credit union has served employees and the community. Currently, LFCU is sponsored by more than 350 companies but is able to offer any company the ability to join. For more information about LFCU, please visit www.lockheedfcu.org.
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 the corporate Web site at www.fldi.com.
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