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 a multi-service report that includes credit, property valuation, flood zone indicator, title search, tax and MLS information, complementing 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.”