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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 businesses

First Lenders Data, Inc. (FLDI), an Austin, Texas-based technology, data and bundled services provider, officially announced today that it has formed a strategic alliance with Financial Assurance (Burr 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 valuation models (AVMs), insured AVMs, appraisals, flood certifications, property reports, legal and vesting reports, lien 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, 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 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 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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Publication:Business Wire
Date:Oct 20, 2004
Words:407
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