First American Data Tree Announces New Portal: ParcelIQ.com
—New Web Portal Delivers Data Services to Aid Lenders’ Loan Processes—
April 26, 2011, SANTA ANA, Calif.
First American Data Tree, LLC, the nation’s largest provider of digital land records, announced today the release of its newest portal, ParcelIQ.com. This new browser-based portal provides lenders with a central source from which to order and receive critical data elements used in the loan decision-making process.
ParcelIQ.com offers a complete product line of property reports and related documents geared to the needs of lenders. Products available through the new portal include property, legal and vesting reports that include information relating to ownership, tax assessment values and payment status, mortgages and other involuntary liens, and recordable legal descriptions. Property reports delivered through ParcelIQ.com utilize a variety of public online and proprietary databases. ParcelIQ.com includes an enhanced layer of quality-assurance review, differentiating it from other products in the marketplace.
A complete suite of automated valuation models and flood zone determinations are also available through the portal with instant delivery. Products offered by ParcelIQ.com provide lenders with the data and documentation needed to validate ownership, determine a property’s current equity status and evaluate risk.
“With the introduction of ParcelIQ.com, we have created a source of information with lenders in mind. We have gone from being solely a real estate data and image provider to partnering with our customers on a much deeper level,” stated Robert Karraa, president of First American Data Tree. “We are proud of our ability to meet our customers’ needs by quickly delivering accurate and reliable solutions.”
Reports delivered on ParcelIQ.com can be customized to match a lender’s requirements, including business rules, product cascades and data content. Leveraging the First American Data Tree database, which contains more than 4.6 billion land records, ParcelIQ.com also offers a comprehensive line of loan portfolio management, tracking and loan document surveillance tools.
About First American Data Tree
First American Data Tree, a member of the First American Financial Corporation (NYSE:FAF) family of companies, is one of the nation’s leading providers of public land records and property data. Data Tree instantly delivers millions of quality images and property reports online, everyday to a variety of industries in need of property information. The company uses state-of-the-art imaging systems and software to meet its customers’ needs for high-speed, reliable property information and database management services. For more information, please visit www.datatree.com.
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance and settlement services to the real estate and mortgage industries, that traces its heritage back to 1889. First American and its affiliated companies also provide title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $3.9 billion in 2010, the company offers its products and services directly and through its agents and partners in all 50 states and abroad. More information about the company can be found at www.firstam.com.