Bethpage Federal Credit Union in Bethpage, N.Y., Holston Methodist Federal Credit Union of Knoxville, Tenn., and United Heritage Credit Union of Austin, Texas, have all selected the FirstClose Report for instant title search, flood certification, valuation and property information and other services tied to mortgage and home equity loan products.
"We searched for a comprehensive provider and are excited to streamline our costs and services by utilizing the FirstClose Report. The company's unique technology allows us to have instantaneous information at a fraction of what we were paying before," Jorge Ponce, home equity product manager at Bethpage Federal Credit Union, said in a statement.
"We are thrilled to be adding Bethpage Federal Credit Union to our long list of customers who saw our product as a way to get on the express lane to lower costs, reduced turn times and shortened closing windows," said Timothy Smith, chief revenue officer of FirstClose.
In addition, the FirstClose Report offers Bethpage FCU a way to "significantly" shorten turn times, by 47%, the company said, by delivering an instant report that reduces costs by an average of 20% and decreasing risk with $500,000 of rated lien protection insurance per loan.
Bethpage FCU is the 16th largest credit union in the nation and New York State's largest with more than 300,000 members.
"We are delighted to partner with FirstClose. As CEO, my philosophy is to work smarter, not harder," said Janet Tidwell, CEO at Holston Methodist Federal Credit Union. "This product allows us to minimize the time spent on preparing a loan for underwriting. We are excited to have this feature available for our lending department."
The $14 million-asset institution has served pastors, churches, staff, church organizations, select employee groups and members within Holston Conference since 1956.
"By utilizing The FirstClose Report, we are now better positioned to effectively streamline our costs and services for United Heritage Credit Union Members. The company's unique solution offers us all the instant data we need to close our home equity loans and lines more efficiently," said Keith Varney, VP of real estate lending at United Heritage CU.