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Technology News

First American Launches New Suite of eClosing Services

March 26, 2007

SANTA ANA, Calif., - The First American Corporation (NYSE: FAF) has expaned its eClosing technology offerings to help lenders and settlement agents further streamline the closing process.

The eClosing Services suite helps lenders and settlement agents jointly deliver the efficient, high-quality experience today's borrowers expect from their real estate transactions, increasing accuracy and reducing the cost and cycle time associated with pre- and post-closing activities.

Providing the foundation for the creation of an electronic mortgage, eClosing Services is an integrated set of capabilities that enables data and documents to be shared electronically between all participants throughout the closing process and provides the ability to sign or acknowledge documents electronically. In addition, the solution enables electronic asset delivery to investors and all documents can be stored in the First American eVault.

"Lenders are constantly looking to improve both the quality and efficiency of their closing process and we believe that the eClosing capabilities we are bringing to the marketplace provide significant improvements in both of these areas," said Roger S. Hull, chief information officer for The First American Corporation. "First American's eClosing Services is the first solution to bring an innovative set of eClosing technologies and services to the broadest network of settlement service providers."

eClosing Services is powered by First American Web Services, an integrated and open architecture whose capabilities ensure compatibility with all loan types, investor solutions, settlement technology and business service platforms. Like all First American technologies, eClosing Services complies with the Mortgage Industry Standards Maintenance Organization (MISMO) standards that are designed to foster the most rapid, least costly and widest possible adoption.

Source: The First American Corporation

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