ABA Mortgage Information Services, LLC

The Alabama Bankers Association is pleased to announce the formation of ABA Mortgage Information Services, a limited liability company designed to facilitate the distribution of mortgage related products and services to the Association’s membership.

“On the heels of the overwhelming success of the multiple bank-owned title insurance agencies, we wanted to expand our creative thinking to find new ways to improve the Association’s value to its membership. The next logical step was to investigate other real estate related products”, says Dan Bailey, CEO of the Association. As a result, the ABA has entered into a re-seller arrangement with LSI Flood Services, an Arlington, TX based provider of flood zone determinations.

Mindy Hanan, Executive Vice President of Education and Administration with the ABA says, “Essentially, ABA Mortgage Information Services, LLC is a re-seller of LSI’s products and services. Because of this relationship, we are able to offer participating banks the opportunity to purchase Basic and Life of Loan flood determinations at a competitive price through an internet-based ordering site. The set-up and implementation time is quick and easy. Interested banks can be placing orders within 24 hours of inquiry and experiencing first-hand the improved level of services.”

The ABA chose to work with LSI as a result of its strong reputation in the industry. LSI Flood Services is a division of Fidelity National Financial and is one of the largest and most experienced flood certification vendors. LSI provides guaranteed, accurate flood zone determinations in compliance with federal requirements and in a FEMA-approved certification format. In addition, LSI is the first flood data provider to replace the paper flood maps with a complete set of digital FEMA flood maps. This innovation gives LSI the most accurate and comprehensive nationwide GIS coverage in the industry, producing higher hit rates and quicker turn-times of product delivery.

“With our bank’s participation in this program, we have not only experienced a faster delivery time of the actual products, but we are also receiving a more competitive pricing structure than our previous providers offered. Because of the improved service and cost savings to the consumer, the decision to participate was easy”, says Gary Guthrie, President/CEO of Troy Bank & Trust Company.

LSI is one of the largest and most experienced flood certification vendors. LSI provides guaranteed, accurate flood zone determinations (FZDs) in compliance with federal requirements and in a FEMA-approved certification format. Providing fast, economical service, LSI helps lenders expedite loan processing and approval. Several options are available for ordering and receiving FZDs, including Internet, EDI connection, and direct loan origination system interface. LSI offers the following benefits:

  • Next Generation Technology-LSI is the first flood data provider to replace the paper flood maps with a complete set of digital FEMA flood maps. This innovation gives LSI the most accurate and comprehensive nationwide GIS coverage in the industry, producing higher automated hit rates and quicker turn-times.
  • Assured Compliance- LSI Flood’s life of loan service ensures compliance with the Flood Insurance Reform Act of 1994 and safeguards your portfolio from potential expense and liability. In order to identify properties affected by FEMA flood map revisions, LSI Flood’s proprietary database, Community and Map Status Information System (CAMSIS), maintains records of all current flood map information, which is consolidated from five government sources.
  • Comprehensive Guarantee- In addition to the financial strength and reputation of our parent company, Fidelity National Financial, LSI Flood’s determinations are secured by an errors and omissions insurance policy.
  • Premier Customer Service-Customer service is the primary focus of LSI Flood. LSI is committed to being the most responsive flood data firm in the industry. In addition to standard services, such as tracking orders and providing technical support, LSI offers rush service at no extra charge.
  • Responsive Dispute Resolution-Flood zone determination dispute resolution is a top priority for LSI and is handled on a rush basis by a staff that focuses solely on FEMA compliance and dispute resolution issues. This staff will review any determination without question and at no additional charge. Additionally, the dispute resolution department will aid in providing necessary supporting documentation and will assist with the Letters of Map Change process.

The Association’s member banks are now able to purchase Basic and Life of Loan determinations through ABA Mortgage Information Services, LLC for properties located anywhere in the United States. For more information, contact Mindy Hanan at 334-834-1890 or Kristi Holzimmer at 334-546- 9039.