CHICAGO, June 19 /PRNewswire/ -- Trans Union and Chicago Title Credit
Services Inc. (CTCS) have signed a letter of intent to enter into an
affiliation arrangement through which Trans Union and its affiliates may make
credit reports available to end users of Desktop Underwriter(R) and Desktop
Originator(R)*. The two companies will enter into agreements with major
software providers and their users to establish affiliate business
relationships.
"Over the years we have found software providers to be innovative and
resourceful in satisfying their users' needs," said Rick Lynch, vice president
of Resource and Property Management, Trans Union. "Our strategy to affiliate
with the software providers initially will allow more mortgage credit
reporting companies to participate sooner, bringing the benefits of our
affiliate program to the marketplace more quickly."
"Both companies bring tremendous experience in credit reporting and real
estate services," said Mike Keller, executive vice president, Chicago Title
and Trust Co., CTCS's parent. "We're excited about this opportunity to join
together to provide these products to mortgage credit reporting companies."
Trans Union and CTCS believe that the affiliation arrangement will provide
the best solution available to mortgage credit reporting companies today.
"The program is designed to allow the mortgage credit reporting companies to
maintain their current systems and client services," said Rick Lynch.
Among the initial list of software providers to benefit from this
arrangement are CTCS, Factual Data, Credit Systems Design (CSD), Innovative
Software Solutions (ISS), Bourne Software Development Inc., Synergistic
Software Systems Inc. and Engineered Business Systems Inc.
Trans Union is the nation's leading consumer credit information company,
with owned and independent credit bureaus in all 50 states. The company
provides a broad range of industries with products and services that include
credit reports, risk scoring models, target marketing systems, pre-employment
evaluation reports, skip tracing and search tools, customized lists,
transaction services; products that service both home equity and first
mortgage lenders; as well as other information based products. Trans Union
also offers similar products through its international operations in Puerto
Rico, the U.S. Virgin Islands, Canada, Italy, Mexico and South Africa.
Offices have also recently opened in Chile, Kenya and Peru.
Chicago Title Credit Services Inc. (CTCS), based in Kingston, N.Y., is a
subsidiary of Chicago Title and Trust Co., a leading national provider of
title insurance and real estate services including credit information,
property valuation, field services, flood compliance and default management
products. CTCS is a multidimensional company that has been a leader in the
creation and development of credit lending services. CTCS offers a
state-of-the-art proprietary system that can receive an order; obtain, edit
and merge credit information; and report back to the lending institution in a
matter of seconds.
Chicago Title and Trust Company is a subsidiary of Chicago Title
Corporation (NYSE: CTZ).
* Desktop Underwriter and Desktop Originator are registered trademarks
of Fannie Mae.
Note: For additional information on Chicago Title's products and
services, visit the company's web site at http://www.ctt.com. Trans Union's
web site is located at http://www.transunion.com
SOURCE Chicago Title and Trust Company
 back to top
Related links:
http://www.ctt.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 117465
CONTACT:
Stephen W. Flanagan of Chicago Title and
Trust Co., 312-223-2959
|
