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First American Announces Launch of Electronic Signing Through EverBank

February 27, 2007

SANTA ANA, Calif., -- First American Title Insurance Company announced that its Lenders Advantage division is now implementing WebSigning, a new application that gives consumers a safe, secure and convenient way to sign and approve mortgage refinance loan documents through the Internet. EverBank is the first lender to utilize the WebSigning service.

As of February 26th, EverBank customers will have the option of signing loan documents online using First American's WebSigning application, which gives consumers the freedom and privacy to review and sign loan documents at the time and location of their choice through a secure Internet application. EverBank can upload electronic versions of loan packages to WebSigning in minutes, making them accessible to the borrower through a unique password. As the mortgage industry continues to trend toward faster -- yet still accurate -- loan closings, WebSigning will provide EverBank with a competitive advantage in refinance customer attraction and retention. EverBank's customers will benefit from same-day signings, easier document changes and a much simpler signing experience overall.

"WebSigning promises to be a major advantage for EverBank and our mortgage customers," said Buddy McCombs, senior vice president of EverBank. "Through the use of this online document approval enhancement, many of our customers will enjoy a new level of convenience for their loan document signings. We expect that, with WebSigning, we'll be able to close more transactions faster and with less probability of error. It will also help us achieve our goal of greater efficiency in our internal processes while improving the customer's overall experience. EverBank is truly excited to be involved with helping bring this momentous process improvement to homeowners."

"With more than 150 million Americans now using the Internet, progressive lenders are seeking Web-based solutions that empower consumers through speed and simplicity," said Howard Turk, senior vice president and senior underwriter of First American Title's Lenders Advantage division. "WebSigning is the first completely flexible platform to allow a consumer to close a refinance loan at their convenience. There is no need to schedule anything with anyone, nor is there any need to install cumbersome software. We expect that simplicity will make it a very desirable option to consumers who have grown accustomed to the 24/7 nature of Internet transactions."

In addition to the new WebSigning service, First American will continue to offer lenders and their consumer customers high quality notary services through its Signature Services division. Homeowners will now have a choice of the signing method that best fits their individual needs on loans processed by Lenders Advantage.

"We believe that it should be easy for lenders to do business with us," said Turk. "WebSigning demonstrates our commitment to developing programs for lenders that are practical and easy to implement."

More information on First American WebSigning is available at www.lendersadvantage.com.

Source: First American



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