First American Title Insurance Company Introduces Trusted Reverse Transaction Division
—New Division Provides Title, Signing and Settlement Solutions for Reverse Mortgage Lenders—
February 5, 2009, SANTA ANA, Calif.
First American Title Insurance Company, the largest subsidiary of The First American Corporation (NYSE: FAF) family of companies, today announced the launch of a new division designed to address the title, signing and settlement service needs of reverse mortgage lenders. The Trusted Reverse Transactions division specializes exclusively in closing reverse mortgage loans, providing a single point of contact for nationwide coverage.
Reverse mortgage loans allow qualified homeowners who are 62 years or older to benefit from the equity in their homes by borrowing against that equity. The reverse mortgage industry has experienced a continual upward trend in volume since 2001. The settlement for reverse mortgage loans is often complicated because it may involve working with powers of attorney, probates and living trusts. The Trusted Reverse Transactions division’s highly skilled staff members understand all the nuances of reverse mortgages and deliver streamlined products and services with simplified pricing.
Carin Bucklin will lead the growth and development of the Trusted Reverse Transactions division in her role as the division’s new director. With more than 15 years of reverse mortgage experience, Bucklin has spoken at annual conferences for the National Reverse Mortgage Lenders Association (NRMLA) and its Learn While-U-Lunch program. Bucklin also has hands-on experience with closing thousands of reverse mortgage transactions.
Toni Rossetta has joined First American as the division’s operations manager to oversee the daily activities and performance of the Trusted Reverse Transactions division. Rossetta has been in the title and escrow industry for 27 years, specializing in reverse mortgage for the last seven years.
“Reverse mortgage lenders have been asking for a dedicated, one-stop title and closing solution and we are proud to be meeting their needs,” said Patrick E. McLaughlin, president of Lenders Advantage®. “Our team brings a highly developed skill set to this important and specialized segment of the mortgage industry. Combined with advanced technology, streamlined products and the financial strength of First American, we believe that the Trusted Reverse Transactions division fulfills a vital need among reverse mortgage lenders and their customers.”
The Trusted Reverse Transactions division provides nationwide coverage through its California office, coordinating its services with local First American branches, where required, to provide a seamless solution to national reverse mortgage lenders. In addition to offering a streamlined title insurance product that meets the requirements of a government-insured Home Equity Conversion Mortgage (HECM), the Trusted Reverse Transactions division provides homeowners with convenient signing options, including a fully screened mobile notary for home-based signings or online signing through its secure WebSigning platform.
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of The First American Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operations and an extensive network of agents throughout the United States and abroad. The company has its headquarters in Santa Ana, Calif. Information about The First American Corporation’s subsidiaries and an archive of its press releases can be found on the Internet at www.firstam.com.