Teres Solutions Partners with Lending Solutions, Inc. (LSI) for Integrated Loan Underwriting Support

AUSTIN, Texas--Teres Solutions™, Inc., a leading provider of direct, indirect and merchant lending software to credit unions and financial institutions, today announced that it has partnered with Lending Solutions, Inc. (LSI). As part of the agreement LSI will integrate with the Teres Solutions SAILŪ lending platform to allow loan officers at LSI to provide 24/7 outsourced underwriting support to SAIL customers. The move will ensure that loan applications are reviewed and underwritten in a timely manner for credit union and banking customers.

“At LSI our goal is to help credit unions grow their loan volume while providing world-class service to their members,” states Jeff Frantz, senior vice president of corporate development at Lending Solutions, Inc. “By responding to these indirect applications immediately, the member is taken ‘off the market’ and the credit union secures more loan business from the dealer.”

The SAIL platform can provide automated decisions on a certain percentage of applications, but the balance of these loans must be underwritten manually. Through its relationship with Teres Solutions, a specialist at LSI can now be notified of a pending application in the system and provide a decision on the application within minutes. Additionally, LSI’s internal lending platform has the ability to interface with the SAIL platform, enabling the transmittal of applications directly to a credit union’s system.

“Our work with LSI is making it easier for credit unions to increase the loan underwriting they do without sacrificing quality,” said Tim Kelly, CEO of Teres Solutions. “It’s a simple and elegant solution to the increasingly complex lending underwriting process.”

For more information on Teres Solutions, visit www.teressolutions.com.

About Lending Solutions, Inc.

Lending Solutions, Inc. has been a provider of lending center services and consulting programs for financial institutions across North America since 1994. The company’s highly-trained professional staff provides 24-hour lending and member service to over 300 of North America’s premiere credit unions, banks, and mortgage companies. For further information on Lending Solutions, please visit the company’s Web site at www.lendingsolutions.com.

About Teres Solutions, Inc.

A wholly-owned subsidiary of CRIF, Teres Solutions, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft certified partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.

SAIL is a registered trademark and Teres Solutions is a trademark of Teres Solutions, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.