First American Forms National Title, Settlement Services Network for REO Market
September 21, 2010
First American Title Insurance Co. announced at The Five Star Default Servicing Conference and Exposition in Dallas the formalization of First American's National Title Insurance and Settlement Solution (FANTISS) network.
The FANTISS network provides a central point of contact to assist lenders in closing large volumes of real estate owned (REO) transactions through First American Title’s network of local offices nationwide. FANTISS team members provide lenders with a single point of contact throughout the settlement process, allowing for a greater level of simplicity and efficiency when closing multiple-property portfolios.
Through the FANTISS network, lenders closing multi-property REO portfolios will experience standardized and consistent processes, communication, technology, underwriting and pricing. Further, First American Title has a national underwriting staff dedicated to working directly with the FANTISS network, which allows lenders to efficiently resolve any title-related issues that may arise during the REO sales process.
"We are offering a unique and branded solution that benefits both lenders and their home-buying customers," said Mike Conway, eastern division president for First American Title. "With today's high volume of REO sales transactions, traditional regional providers offer little standardization and can simply be overwhelmed. By utilizing the FANTISS network, national lenders will experience the convenience of working with a single point of contact while buyers will receive the same quality and personalized service that they have come to expect when working with First American Title Insurance specialists at the community level.”