Stewart Provides Electronic Closing Options for Flagstar Bancorp

October 20, 2008

Stewart announced that they have successfully integrated their SureClose(R) technology with Flagstar's Loantrac System. The integration of these two technology platforms provides Flagstar borrowers and Stewart Title's closing agencies with the ability to close Flagstar loans electronically. Through a seamless integration and strong partnership, Flagstar and Stewart have created an innovative solution for mortgage brokers and title agencies.

Stewart's SureClose platform contains the eClosingRoom(TM) technology. This solution provides consumers with the ability to review and accept documents over the Internet, allowing them to simply review and electronically sign all the documents with a signature pad or with the click of a mouse at the closing.

As a result of this integration, closing agencies using the SureClose platform will be able to electronically receive loan closing documents directly from Flagstar, electronically sign and notarize the documents with the borrowers, and automatically deliver the eSigned documents from SureClose to Flagstar within minutes of the closing.

"This partnership is a perfect example of what can be accomplished when two of the industry's most innovative organizations share a common vision," said Jason Nadeau, President and CEO of Stewart Lender Services, a subsidiary of Stewart Title Company. "Flagstar is an industry mover with their eMortgage vision and in providing innovative solutions to their mortgage brokers, and Stewart is the leader amongst the title underwriters in developing and deploying eClosing solutions."

This partnership allows Flagstar to take advantage of the Stewart eMortgage suite of technologies and Stewart Title's network of eClosingRoom-enabled offices. Furthermore, Stewart's SureClose platform supports collaboration and document sharing between all parties on the closing, electronically storing the documents in an electronic vault, registering the loan with MERS and electronically delivering the loan documents to Flagstar's systems.

"We're excited to team up with Stewart to expand the use of paperless mortgage technology," said Brian Boike, First Vice President, Lending Support, at Flagstar. "Integration with the SureClose platform will accelerate Flagstar's eMortgage adoption by providing access to an additional network of title agencies who are prepared to close loans electronically."

Source: Stewart eMortgage Technologies


Contact ALTA at 202-296-3671 or communications@alta.org.

North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents. SoftPro is the nation's leading provider of real estate closing and title insurance software. With more than 14,000 customer sites and over 60,000 users nationwide, this award-winning software offers a suite of products designed to increase your volume and revenue by reducing the time it takes to do closings. SoftPro has been recognized by the American Business Awards every year since 2007 - winning awards for Superior Customer Service, Support and Product Development.