FLDI Offers Online Access To Flood Determination Data.(First Lenders Data Inc.)

Through an arrangement with Prime Alliance Solutions, First Lenders Data Inc. here is working with 34 credit unions that collectively request about 3,000 flood determinations per month, the company said.

Prime Alliance Solutions, Tukwila, Wash., is a national provider of mortgage lending solutions to credit unions and credit union organizations.

The partnership allows Prime Alliance members to access a flood determination service, Prime Flood, through Prime Alliance's proprietary loan officer technology. They can also obtain flood zone determinations through a private-label version of FLDI's FirstClose platform.

Tedd Smith, CEO of First Lenders Data, said his company provides life-of-loan monitoring as well as determinations at the time of origination or loan acquisition.

"We are going to watch that property for the 30-year duration of the loan for potential future changes in the map," he told NMN.

He said FLDI has some unique products that are designed to protect second mortgage and home-equity loan products, which are growing in popularity, especially with credit unions that want to deepen their relationship with the borrower.

Mr. Smith said that the new arrangement with Prime Alliance Solutions augments an existing relationship between the firms. The new relationship adds volume discounts for credit unions that opt to use the service.