Tech CU selects The FirstClose Report™ for its home equity business
Providing instant title, valuation, flood, tax and lien protection insurance
AUSTIN, TX (November 7, 2016) — FirstClose announced today that Technology Credit Union (Tech CU) has chosen The FirstClose Report™ to support its home equity products. The FirstClose Report provides title search, flood certification, valuation and property information with lien protection insurance instantly and offers credit union lending divisions all they need to review and approve these loans.
As one of the Bay Area’s largest credit unions, Tech CU provides innovative financial products for all stages of its members’ lives, including personal banking, wealth management, private banking, commercial lending and business banking. The company serves more than 75,000 members including employees from many of Silicon Valley’s top companies. It’s one more, from a long list of financial institutions that view The FirstClose Report as a tool that can help them compete more successfully.
With The FirstClose Report, lending institutions can receive all the data they need to qualify applicants instantly, thereby reducing closing times from 40+ days to less than 10 days, lowering costs by 40% on average, and reducing risk with $500,000 of A+ XIII rated lien protection insurance per loan.
“Tech CU wanted to get on the express lane to lower costs, quicker turn-times and shorter closing time frames and saw The FirstClose Report as a way to make that happen,” said Timothy R. Smith, Chief Revenue Officer of FirstClose.
“The FirstClose Report will enable us to work more efficiently and effectively, which ultimately benefits our members — helping to improve their experience,” stated Angie Hernandez, SVP, Retail Credit Administration at Tech CU.
For more information about FirstClose and to receive a sample report visit www.FirstClose.com.
FirstClose is a privately held company based in Austin, Texas. Founded in 2000, the company provides cutting-edge technology solutions to mortgage lenders nationwide. FirstClose is a proprietary software platform designed to deliver mortgage lenders end-to-end solutions from loan application to closing, and offers the most robust, yet user friendly vendor management system available. FirstClose is also the home of The FirstClose Report™, the first instantaneous and guaranteed owners and encumbrance property report with flood, valuation, tax and other important data elements combined within one report. In addition, FirstClose offers lenders their choice of nationally recognized providers as well as local vendors. For more information on FirstClose products and services, visit the company’s web site at www.FirstClose.com or call 1-877-677-3282.
About Tech CU
Tech CU (www.techcu.com) is a $2 billion credit union serving more than 75,000 members throughout the San Francisco Bay Area. A federally insured, not-for-profit organization, we put the financial interests of our members ahead of shareholder profit by helping members achieve their financial goals on their terms and by sharing the benefits of our growth. And, with mobile and online banking, 65,000+ surcharge-free ATMs worldwide (more than Chase, Bank of America and Wells Fargo combined) and convenient branch access to our financial experts, Tech CU makes 24/7 banking easy and empowering.