FLDI, Stewart Mortgage Information form strategic alliance

First Lenders Data Inc. (FLDI), Austin, Texas, and Stewart Mortgage Information (SMI), Houston, have formed a strategic alliance. The alliance will provide mortgage lenders with SMI's flood, title, closing, recording and satisfaction services through FLDI's FirstClose(TM) vendor-management platform.

"This

alliance offers lenders an expanded number of financial services that can help them stay competitive in the wake of the refinance boom," said Dennis Conway, SMI's national account manager. "Through cost savings and comprehensive vendor management, our participating lenders can use the services provided by FLDI to improve the way they do business and gain a competitive edge."

FLDI offers bundled services through alliance partners such as SMI to provide a cost-effective vendor-management solution for lenders to better manage the origination process and select the best technology to meet their own individual needs.

Users can integrate with existing legacy and front-end origination systems, and select a variety of technology options that include credit reports, automated valuation models (AVMs), conventional appraisals, flood certifications, property reports, legal and vesting reports, credit-based lien reports, title services, closing services, recording services, document preparation and income verification.

"Our vendor-management system offers small to midsized lenders a tool for competing with the giants of the mortgage industry," said Tedd Smith, chief executive officer of FLDI. "Bundled financial solutions along with vendor-management services offer a way to boost profitability and reduce the time and resources spent coordinating with outside technology vendors."