AUSTIN, Texas - (01/13/05) -- First Lenders Data Inc. said itformed a strategic alliance to provide bundled services to creditunions and other customers of Western Reliance Corp. Under thedeal, First Lenders will provide credit reports, automatedvaluation models, insured valuation models, appraisals, floodcertifications, property reports, lien reports and incomeverification through MorClose, a licensed version of First Lenders'management platform called FirstClose. Western Reliance, based inPortland, Ore., provides collateral protection coverage(forced-placed insurance) through more than 400 credit unionsthrough a partnership with State National Companies.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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Dime Community Bancshares, which has added dozens of bankers over the past two years, is now ready to consider expanding its geography.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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