First Federal Launches 24-Hour Mortgage WebCenter With Instant Loan Approvals

Charleston --- First Federal has launched its online Mortgage WebCenter giving customers 24-hour access to mortgage loan applications and nearly instantaneous application decisions.

Customers can access the Mortgage WebCenter on First Federal’s website at firstfederal.com and can apply for a mortgage loan, research interest rates and loan programs and utilize an in-depth online mortgage resource center 365 days a year. Customers will receive a decision and lock in a rate within minutes for loan amounts up to $750,000.

“We believe our Mortgage WebCenter offers a huge boost in terms of customer service,” said Todd Huss, vice president of residential lending at First Federal. “We took the time consuming traditional mortgage process, and made it a simple activity. Our distinguishing factor is the quick turnaround on the decision. Other mortgage lenders are taking applications online, but First Federal is giving customers a decision within seconds of completing their application.

It’s all about accommodating our customers. It’s another option, but we will continue to help customers through every step of the process depending on their needs.”

The WebCenter is located on First Federal’s secure website, and allows customers to complete an application at their convenience. The application can be completed in approximately 20 minutes. “We only ask questions that are absolutely necessary to make a decision, which greatly reduces the time it takes to complete and receive a decision,” Huss said.

The site also contains a resource center that provides answers to frequently asked questions, a glossary of common mortgage lending terms, a detailed listing of estimated closing costs and a rate calculator that allow the customer to experiment with different mortgage products.

Visitors to the site can also sign up for Rate Watch, which monitors First Federal’s mortgage rates and sends an automatic, customized rate quote. “Rate Watch is great for customers who want to refinance or make a purchase once market rates reach a determined level” Huss said. “Just tell us what rate you're looking for, and we'll notify you when it hits your target. You can then go online to complete an application and lock your rate.”