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FirstClose Unveils an Instant Mortgage Prequalification Tool Called the FirstLook Report

– Enables lenders to prequalify borrowers faster using single comprehensive services report –

Austin, Texas, October 23, 2017 – FirstClose, a provider of technology solutions for mortgage lenders nationwide, today announced the addition of the FirstLook Report, the first instant prequalification tool for mortgage lenders, to its portfolio of service offerings.

The FirstLook Report allows lenders to efficiently prequalify borrowers by providing one instant multi-service report that includes credit, property valuation, flood zone indicator, title search, tax and MLS information. This all-in-one report complements the FirstClose Report, which serves home equity/consumer lending departments at banks and credit unions.

The FirstLook Report is comprehensive enough to provide lenders with all the information they need to make an informed decision about proceeding to the next level in the loan origination process with a potential borrower, while saving them valuable time and money.

Lenders are armed with granular, detailed information about FICO/credit scores, current market value, property type and description, census tract data, historical photos of the property, satellite images, APN/Tax ID numbers, last sale/1st and 2nd mortgage loan amounts, LTV, CLTV, legal descriptions, confidence scores, tax assessed values, sales history, square footage and more.

“We created the FirstLook Report because we had not seen anything available to lenders that could help them in so many different ways at once during the complex loan origination process,” said Tedd Smith, CEO of FirstClose. “Not only does this report give them an idea of everything they will eventually need in order to extend credit on real estate secured loans, but it also empowers them to make faster decisions at a very minimal cost.”

For more information about the FirstLook Report and to receive a sample report, please visit www.FirstClose.com.

Client Turn-time has significantly reduced over the year. I believe it’s dropped almost seven days, so it’s been a pretty big gain from that. We’ve been able to reduce our days-to-close roughly from 40 days down to about 30 days.

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