Ellie Mae Offers Direct Access to First American's FASTWeb
|January 30, 2002|
PLEASANTON, Calif.--(BUSINESS WIRE)-- Ellie Mae Inc and The First American Corporation (NYSE: FAF) have enhanced the tools available to originators through their partnership.
Expanding upon its existing relationship with First American, Ellie Mae will be providing Genesis 2000®, Contour The Loan Handler®, and Calyx Point® customers with direct desktop access to First American's FASTWeb, an electronic ordering and delivery system of mortgage services, through Ellie Mae's ePASS(sm) Business Center. In 2001, more than one million transactions were completed through ePASS®, making it the most widely-used Internet transaction platform for mortgage originators.
Accessible from their loan origination software (LOS), the ePASS Business Center gives originators one-click access to First American's mortgage tools and services including RESValueWeb, its automated valuation model (AVM), CREDCO, Executive Reporting Services (ERS), Flood Data Services, appraisal and title services. ePASS clients can access and submit loan data to First American's FASTWeb, in a secure environment, 24 hours a day, without leaving their desktop or duplicating data entry.
For title transactions, the Fastweb and ePASS combination provides order flow to the local title office level. Originators can even choose to place the order with their favorite closing agent in their hometown. For credit reports, Genesis and Contour users can receive responses and upload the credit reports back into the loan file within seconds. Such solutions further help streamline the loan process.
"Scale, technology, the Internet and e-commerce are all critical factors in the mortgage origination business today," said Parker S. Kennedy, president of The First American Corporation. "This alliance brings together two strong leaders with one specific goal: to offer the finest tools and services to mortgage professionals through a comprehensive and easy-to-use platform. A key element of the partnership positions First American as a preferred provider with Ellie Mae, allowing us to market our entire array of mortgage origination products to Genesis and Contour users, as well as to Ellie Mae's ePASS Business Center subscribers."
Source: Ellie Mae