New Strategic Alliance Between FLDI and Western Reliance Provides Expanded Bundled Services to Lenders; Services Platform Offers Cost-Savings to Enhance Competitiveness.AUSTIN, Texas -- First Lenders Data, Inc. (FLDI FLDI First Lenders Data Inc ), 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 The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to financial institutions with Portland, Ore.-based Western Reliance Corp., a provider of collateral protection insurance and tracking systems and ancillary Subordinate; aiding. A legal proceeding that is not the primary dispute but which aids the judgment rendered in or the outcome of the main action. A descriptive term that denotes a legal claim, the existence of which is dependent upon or reasonably linked to a main claim. insurance products to lenders. Western Reliance chose FLDI to provide bundled services and vendor management in July 2004 and is now providing its customers with 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 through MorClose(TM), a licensed version of FLDI's vendor management platform called FirstClose(TM). "FLDI offers us a significant cost savings that we are able to pass along to our clients," said Mike Kehoe, president of Western Reliance. "Our one-stop vendor management platform saves our lending partners time and resources that can be better used to further boost customer service." "Our alliance with Western Reliance is focused on helping financial institutions enhance their own marketability so they can better compete against some of the giants in the lending industry," 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. "We are able to secure the most cost-effective technology solutions for Western Reliance, which will in turn help to change the way their own customers do business." FLDI works directly with mortgage service data providers and vendors on behalf of banks, mortgage lenders and credit unions to provide these financial 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 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 process. About Western Reliance, Inc. Western Reliance Corporation, headquartered in Portland, Ore., serves more than 400 financial institutions nationwide with collateral protection insurance and tracking systems, along with a variety of other ancillary insurance products. Founded in 1977, the company uses advanced, Internet-based technology Refers to the communications infrastructure of the Internet, which is based on the IP protocol. IP is part of the TCP/IP protocol suite. It may also refer to voice over IP (VoIP), which uses the Internet to make telephone calls. See VoIP, IP and TCP/IP. to protect lenders' loan collateral and enhance customer relationships. For more information on Western Reliance, call 800-932-0989 or visit the company's Web site, www.westernreliance.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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