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Peoples First Community Bank Selects The Credit Network To Provide Credit Reporting Services Via the Internet.

Business Editors

FRAMINGHAM, Mass.--(BUSINESS WIRE)--July 23, 2003

iTCN platform streamlines lending and enhances services for

Spanish speaking customers

The Credit Network (TCN), a national mortgage credit reporting service provider, announced that Panama City, Fla.-based, Peoples First Community Bank has chosen the company's Web-based iTCN system as its credit services reporting platform.

The bank selected TCN to provide credit reports because the company's iTCN credit reporting platform streamlines the process for loan officers, and easily merges into Dynatek's MORvision, the loan origination software (LOS) used by the bank. Implementation began in October 2002 and within one month, Peoples First Community Bank's loan officers were successfully using the platform to access credit reports.

"With our previous credit report provider, loan officers had to manually input the borrower's data from the credit reports into our LOS," said Martha Murphy, vice president of Peoples First Community Bank. "We worked with TCN to seamlessly integrate iTCN with Dynatek's MORvision, so information is exported automatically. Now, loan officers save 10 minutes per loan and reduce the chances for typing errors."

In addition, iTCN enables Peoples First Community Bank's loan officers to better serve Hispanic customers through TCN's Spanish language credit reports. These reports eliminate translation errors and provide an increased level of comfort to Spanish speakers who are applying for a loan.

"iTCN was designed to meet the specific needs of lenders like Peoples First Community Bank, which require a credit reporting platform that exports data directly into an LOS, helps loan officers process loans more quickly and enables them to provide exceptional service to all of their customers," said Shawn Jobe, TCN's vice president of Information Technology. "The iTCN platform provides a valuable tool for lenders to establish a competitive advantage in the marketplace."

About Peoples First Community Bank

Founded in 1983, Peoples First Community Bank has its headquarters in Panama City, Fla. The bank has assets worth more than $1 billion and has banking centers and loan production offices throughout the state of Florida.

For additional information about the bank, visit the company's Web site at

About The Credit Network

With more than 600 clients nationally, The Credit Network (Framingham, Mass.) has been serving the needs of credit grantors and mortgage lenders since 1926. Its clients include CTX Mortgage Co., National City Mortgage and Quicken Loans. The Credit Network specializes in the delivery of credit information and related services to the residential and equity lending industry through customized interface programs and links to more than 20 mortgage loan origination and tracking systems.

For more information about The Credit Network, visit the company's Web site at
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Publication:Business Wire
Date:Jul 23, 2003
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