InstantData® for RESPA

As part of First American’s overall RESPA solution, InstantData® assists with calculating the monthly tax escrow payment, and calculating tax amounts to help quickly and accurately prepare the GFE so your clients have accurate tax information needed for closing loans fast.

New regulations in effect January, 2010 will require originators and closers to achieve higher levels of accuracy in estimating closing costs and comparing them with HUD-1 settlement statements.

With InstantData®, you can:

• Access current, precise real estate property tax data
• Mitigate risk and avoid potential penalties associated with non-compliance
• Eliminate time spent waiting for title companies to provide tax information

This fully-automated solution provides you with:

• Centralized, real-time access to one of the largest, tax information databases in the industry
• Customized calculations based on your estimated closing date and escrow procedures
• Maximized number of results returned
• Accurate results in seconds
• Reduced error counts
• Improved query and response times.
• Ability to reallocate time spent searching for tax information and calculating GFE