First American Global Offshore Services Partners with Graystone Solutions, Inc.
—Partnership Expands Access to Global Business Process Outsourcing Servicing Solutions for Graystone Users—
February 7, 2008, SANTA ANA, Calif.
First American Global Offshore Services, a member of The First American Corporation (NYSE: FAF) family of companies; and Graystone Solutions, Inc., a leading loan servicing and technology provider, today announced a strategic partnership to offer First American’s MortgageBPOSM solutions via Graystone’s custom MortgageServ-based solutions.
Through this partnership, Graystone clients have direct access to First American’s global business process outsourcing solutions, bringing opportunities to reduce cost and improve efficiency for each step of the servicing and default cycles through the MortgageServ platform. Graystone’s custom MortgageServ solutions allow lenders and servicers to automate all loan servicing processes from a single browser-based real-time platform.
“By offering MortgageBPO in conjunction with the MortgageServ platform, Graystone’s clients now have expanded choices to tap into the benefits of First American’s global offshore capabilities,” said Scott Brinkley, executive vice president of First American’s Global Offshore Services group. “Graystone provides a much-needed suite of specialty servicing solutions and has forged strong relationships with servicers throughout the nation. First American is pleased to extend our services to this expanded market.”
MortgageBPO is part of First American’s overall global Business Process Outsourcing (BPO) service offerings and aggregates the international expertise developed across core First American companies to offer flexible and comprehensive outsourcing solutions to originators, servicers, default managers, insurers and investors.
“Partnering with First American opens a number of opportunities to improve products, services and operational efficiencies for our respective clients, thus enabling them to maintain their competitive edge in today’s global marketplace,” said Emile Coulon, chief executive officer of Graystone Solutions.
About The First American Corporation
The First American Corporation is a FORTUNE 500® company that traces its history to 1889. With revenues of $8.5 billion in 2006, it is America's largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people's lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. More information about the company and an archive of its press releases can be found at www.firstam.com.
About Graystone Solutions, Inc.
Graystone Solutions, founded in 1990, is a privately held company located in Sudbury, Mass. It leverages the Service Oriented Architecture (SOA) of the FISERV/MortgageServ application along with other loosely coupled systems to design and provide efficient and reliable real-time Web-centric services and technology to its clients. Graystone’s applications allow clients to ‘consume’ customized business processes on a variable cost basis. Outsourced solutions include Application Service Provider (ASP), Shared Servicing, Interim Servicing, Default Management and Operational Process Consulting for the residential mortgage and consumer finance industries. Graystone’s clients include national and community financial institutions, mortgage originators, capital market aggregators, default management companies, and other firms seeking outsource solutions and increased productivity. More information about the company can be found at www.graystonesolutions.com.