Partnership Enables Efficient Home Equity Lending And LOS Integration

FirstClose, a provider of end-to-end technology solutions for refinance and home equity lenders nationwide, today announced a partnership with Pensacola, Fla.-based Pen Air Federal Credit Union. The partnership integrates FirstClose into Pen Air’s loan origination system (LOS), LoansPQ. A MeridianLink solution, LoansPQ integrates loan origination, core processing and internal banking software in almost any configuration.

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The integration with FirstClose provides the credit union access to an end-to-end refinance and home equity lending solution, as well as a vendor management system that eliminates duplicate data entry. Pen Air is able to easily order instant property reports, AVMs, desktop valuations, property condition reports and flood reports directly from its LOS. In addition, FirstClose will handle all closing and recording responsibilities on behalf of the credit union.

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“FirstClose’s unique, comprehensive solution provides an effortless way to process all home equity loans and home equity lines of credit,” said David Lancaster, VP of Lending, at Pen Air. “We pride ourselves on providing our members with the best possible service, and we’re looking forward to working closely with FirstClose to achieve this.”

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“We already value our partnership with Pen Air and look forward to helping Pen Air reduce closing times, cut costs and increase efficiencies,” said Tim Smith, co-founder and president of FirstClose. “Our goals align with Pen Air’s in that we are focused on providing the most accurate property information in an efficient and easy-to-use way.”

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