FIRST AMERICAN LAUNCHES NEW SUITE OF ECLOSING SERVICES
—Solution Enables Lenders to Achieve Efficiency, Improve Quality and Mitigate Risk—
March 23, 2007, SANTA ANA, Calif.
The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced the expansion of its eClosing technology offerings to help lenders and settlement agents further streamline the closing process.
The eClosing Services suite helps lenders and settlement agents jointly deliver the efficient, high-quality experience today’s borrowers expect from their real estate transactions, increasing accuracy and reducing the cost and cycle time associated with pre- and post-closing activities.
Providing the foundation for the creation of an electronic mortgage, eClosing Services is an integrated set of capabilities that enables data and documents to be shared electronically between all participants throughout the closing process and provides the ability to sign or acknowledge documents electronically. In addition, the solution enables electronic asset delivery to investors and all documents can be stored in the First American eVault.
“Lenders are constantly looking to improve both the quality and efficiency of their closing process and we believe that the eClosing capabilities we are bringing to the marketplace provide significant improvements in both of these areas,” said Roger S. Hull, chief information officer for The First American Corporation. “First American’s eClosing Services is the first solution to bring an innovative set of eClosing technologies and services to the broadest network of settlement service providers.”
eClosing Services is powered by First American Web Services, an integrated and open architecture whose capabilities ensure compatibility with all loan types, investor solutions, settlement technology and business service platforms. Like all First American technologies, eClosing Services complies with the Mortgage Industry Standards Maintenance Organization (MISMO) standards that are designed to foster the most rapid, least costly and widest possible adoption.
“By leveraging our open architecture and flexible implementation options, customers are quickly able to embrace the services that solve their unique needs,” said Tom Booker, executive vice president of The First American Corporation’s Enterprise Technology Group. “eClosing Services is a natural extension of the existing technology and business services lenders may be using.”
First American will be onsite at the MBA’s National Technology in Mortgage Banking Conference & Expo, March 25-28, 2007, at the
About First American
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is