FirstClose, a provider of technology solutions for mortgage lenders nationwide, today announced an ongoing partnership with Flagstar Bancorp, Inc. (NYSE: FBC) that will provide Flagstar access to an end-to-end home equity lending technology solution, as well as a vendor management system that eliminates duplicate data entry.

FirstClose is now fully integrated into Flagstar's MeridianLink loan origination system (LOS), LoansPQ.

As a result of the partnership, Flagstar is able to order property reports, flood certifications, desktop valuations and full appraisals through FirstClose. In addition, FirstClose facilitates closing and recording responsibilities for Flagstar.

"FirstClose offers a nationwide, one-stop solution to processing home equity loans and home equity lines of credit," said Bill Carey, director of consumer finance at Flagstar. "We're looking forward to working closely with FirstClose to provide the best service possible to our customers."

"Not only is Flagstar proving to be a great customer, but they are already becoming a valuable partner as well," said Tedd Smith, CEO of FirstClose. "The Flagstar team helped us perfect our integration into the LoansPQ platform, enabling us to better serve future customers."

About Flagstar Bank

Flagstar Bancorp, Inc. (NYSE: FBC) is a $16.9 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as 95 retail locations in 27 states, representing the combined retail branches of Flagstar and Opes Advisors mortgage division. Flagstar is a leading national originator and servicer of mortgage loans, handling payments and record keeping for $91 billion of home loans representing 415,000 borrowers. For more information, please visit

About FirstClose

Headquartered in Austin, Texas FirstClose provides technology solutions to mortgage lenders nationwide and serves as a middleware application that provides access to a host of national and local real estate service providers via the web or through direct integration into various loan origination systems. The FirstClose reporting suite is the first, comprehensive solution with capabilities to deliver title, flood, valuation and other important data elements in one report. For more information, visit

View source version on

Copyright Business Wire 2010