First American Mortgage Solutions Helps Users of Ellie Mae Total Quality Loan Program Originate Compliant, Defect-Free Loans
Direct Access to First American’s FraudGuard Data Validation Tool Automates Loan Application Review Process for Greater Efficiency and Peace of Mind
October 13, 2016, Santa Ana, Calif.
First American Mortgage Solutions, LLC, a subsidiary of First American Financial Corporation (NYSE: FAF) and leading provider of comprehensive solutions for lenders and servicers that cover the entire loan spectrum, today announced the availability of its FraudGuard® product through Ellie Mae’s Total Quality Loan (TQL®) program.
FraudGuard is First American’s automated pre-funding quality assurance tool that provides the superior analytics, reporting, defect-trending and audit trails lenders need to originate defect-free loans. It leverages a combination of superior data, pattern-matching analytics and industry experience garnered from over 28 million reviewed loans to quickly identify potential fraud risk and errors in mortgage applications.
The TQL program is available through Encompass®, Ellie Mae’s all-in-one mortgage management solution. TQL centralizes best-in-class loan origination services and technologies from Ellie Mae and third-party service providers, including First American Mortgage Solutions.
“Ellie Mae’s Total Quality Loan program complements our own commitment to the Pursuit of Certainty in Lending,” said Kevin Wall, president of First American Mortgage Solutions. “This partnership makes exceptional mortgage solutions available to TQL users from a single, convenient screen. The addition of FraudGuard will make it easier than ever for lenders to make real-time risk assessments and deliver superior loan quality.”
"We’re pleased to expand the selection of service choices available in TQL through our partnership with First American Mortgage Solutions,” said Joe Tyrrell, executive vice president at Ellie Mae. "This integration will improve our mutual customers’ ability to efficiently deliver high-quality loans while eliminating significant compliance risk."
The combination of First American products and services available through TQL and Encompass now include:
- Title and Settlement Services
Automated title production, centralized and local closing services, choice of mobile signing professional or WebSigning™ and expedited recording services
- Home Equity Solutions
Property ownership reports and equiSmart™ title insurance for home equity. equiSmart™ provides insurance for unknown liens and security instrument forgery, among other matters.
- Valuation and Collateral Risk
A complete suite of conventional and alternative valuation products, from standard appraisals to property evaluations, broker price opinions and automated valuation models
A next-generation data validation tool designed to help lenders originate compliant, defect-free loans and powered by a combination of superior data, pattern-matching analytics and industry experience garnered from over 28 million reviewed loans
About First American Mortgage Solutions
First American Mortgage Solutions, a part of the First American family of companies, provides comprehensive solutions for residential lenders and servicers covering the entire loan spectrum. First American Mortgage Solutions, together with First American’s broader capabilities, serves as a single source for title and settlement, data and analytics, fraud and verification, regulatory compliance, valuation and collateral risk, quality control, fulfillment services, and default services. More information about First American Mortgage Solutions can be found at https://www.firstam.com/mortgagesolutions.
About First American
First American Financial Corporation (NYSE:FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides 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 $5.2 billion in 2015, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2016, First American was recognized by Fortune® magazine as one of the 100 best companies to work for in America. More information about the company can be found at https://www.firstam.com.
About Ellie Mae
Ellie Mae (NYSE:ELLI) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry. Mortgage lenders of all sizes use Ellie Mae’s Encompass® all-in-one mortgage management solution, Mavent Compliance Service, and AllRegs research, reference and education resources to improve compliance, loan quality and efficiency across the entire mortgage lifecycle. Visit EllieMae.com or call (877) 355-4362 to learn more.