FirstClose Unveils Mortgage Prequal Tool

Oct 24, 2017

FirstClose has announced the addition of the FirstLook Report, an 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 provides 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.

“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, Chief Executive Officer 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.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Oct 24, 2017

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...