FLDI Announces New Strategic Alliance With Financial Assurance.AUSTIN, Texas -- Alliance provides bundled technology services and vendor management to enhance lenders' ability to focus on core businessesFirst Lenders Data, Inc. (FLDI FLDI First Lenders Data Inc ), an Austin, Texas-based technology, data and bundled services provider, officially announced today that it has formed a strategic alliance with Financial Assurance (Burr burr (bur) bur. burr n. Variant of bur. burr 1. a plant seed capsule carrying many hooked structures which catch in animal coats thus promoting dissemination of the plant. Ridge, Ill.), a provider of mortgage settlement services, that offers bundled financial and technology services to mortgage lenders. Financial Assurance formed the alliance with FLDI in July 2004 and now offers its own lender customers a private-label version of FLDI's FirstClose(TM) platform, a vendor management solution that offers credit reports, automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. valuation models (AVMs), insured AVMs, appraisals, flood certifications, property reports, legal and vesting Vesting The process by which employees accrue non-forfeitable rights over employer contributions that are made to the employee's qualified retirement plan account. Notes: reports, lien lien, claim or charge held by one party, on property owned by a second party, as security for payment of some debt, obligation, or duty owed by that second party. reports and income verification. "The alliance provides cost-effective technology to our lender customers and simplifies the way that they work with vendors," said Livio Valli For the Italian actress, see . Valli (Tamil வள்ளி) is the name of prominent Hindu god Murugan's consort, according to Tamil traditions. She is depicted as a the daughter of a tribal chief. , president of Financial Assurance. "The services offered through this alliance greatly simplify the practice of vendor management and, in doing so, help keep lenders focused on serving their borrowers and booking loans." "Our vendor management platform enables Financial Assurance to offer a wide variety of mortgage settlement services to its lender customers," said Tedd Smith, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FLDI. "The platform gives them the ability to more easily add their own title companies, appraisers and other vendors, which can help them to be more competitive by streamlining their origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real processes." 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 Financial Assurance Financial Assurance is based in Burr Ridge, Ill., a subsidiary of BankFinancial F.S.B. (assets $1.5 billion). For more information about BankFinancial, please visit the Web site at www.bankfinancial.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 their Web site at www.fldi.com. |
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