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Lenders First Choice Occupies 26,000 Square Foot Office Space in Frisco; Frisco Economic Development Corporation Helps Bring 275 Jobs to Area.

Business Editors

FRISCO, Texas--(BUSINESS WIRE)--June 23, 2003

Lenders First Choice, provider of settlement services and title insurance to national and regional lenders, now occupies a 26,000 square foot location in Frisco that, at full capacity, will house approximately 275 of the firm's employees. Sixty people currently work at the location, and the company expects to add escrow, title and administrative support staff in the near future. The six-year lease, initiated in February 2003, runs through June 2009.

"Our model of using the latest web technology and providing world-class service to our lenders has enabled us to grow at an incredible rate," said Bill Moody, president of Lenders First Choice. "This additional space is necessary to accommodate the increases in staff that we need now, and that we project to need over the next couple of years. Luckily, the Dallas area is full of both experienced mortgage industry professionals and young, talented business people, enabling us to continue to grow and improve at the same time."

The Frisco Economic Development Corporation worked with Lenders First Choice in the firm's decision to locate in Frisco. The company will receive financial benefits by reaching certain employee quotas by pre-determined deadlines, one of which has already been completed.

"Companies like Lenders First Choice, bringing high economic impact combined with low environmental impact, are exactly the type that we want in Frisco," said Jim Gandy, president of Frisco Economic Development Corporation. "Job creation and expansion of the tax base are vital to the continued growth of our city. Service and technology oriented businesses like Lenders First Choice create quality jobs for our citizens. Frisco is proud to be the new home of Lenders First Choice."

Lenders First Choice helps lenders close more loans by providing guaranteed closing costs, 72-hour turnaround time and exceptional customer service. The firm's web-based technology enables lenders to view and print up-to-date closing documents online at any time. In Q2 2003, Lenders First Choice will process more than 15,000 orders from regional and national lenders.

The firm also occupies a 33,000 square foot location in Simi Valley, Calif., and is investigating possible sites in the southeast for additional expansion to support its Eastern Time Zone customers and to support continued growth.

About Lenders First Choice

Founded in 2002, Lenders First Choice (LFC) provides settlement services and title insurance to regional and national lenders throughout the United States. A member of the Mercury Family of Companies, the firm operates from centers in Simi Valley, Calif. and Frisco, Texas. LFC enables lenders to close more loans by providing guaranteed closing costs, enabling the borrower to have a surprise-free, friendly closing experience.

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Publication:Business Wire
Date:Jun 23, 2003
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