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After years of regulatory implementation, the mortgage industry is ripe for sustainable quality and growth strategies driven, in part, by operational efficiencies. One service provider is abundantly prepared to provide the support sought by residential lenders, servicers and investors: First American Mortgage Solutions.
There’s a need for countless products and services throughout the mortgage lifecycle. While many vendors have retreated from certain markets, First American Mortgage Solutions has poured capital into its business lines across the mortgage continuum, from origination to post-closing to servicing.
This gives the company the ability to provide data solutions, fraud risk detection and verification, regulatory compliance, valuation and collateral risk assessment, title and settlement for purchase and home equity transactions, document services, fulfillment services, and default services.
“We’ve bolstered our capabilities through a series of strategic investments, including supplementing our data and making key acquisitions, as well as by levering deep assets across our enterprise,” said Kevin Wall, president of First American Mortgage Solutions. “Complementary to our broad growth strategy is our culture of continual improvement, which has led to unmatched quality standards that received independent third-party validation.”
Driven by its relentless Pursuit of Certainty in Lending, the company is committed to helping lenders and servicers deliver both quality loans and a quality consumer experience.
It specializes in innovative data-driven solutions that help maintain accuracy and transparency throughout the mortgage lifecycle.
“No other service provider can do what we do—we have all the building blocks needed to create customized growth strategies with a focus on quality and consumer satisfaction,” Wall said.
Notable accomplishments in 2016 include:
• Completing its end-to-end valuation offering with the acquisition of Forsythe Appraisals, and then creating Total Valuation Suite by integrating its comprehensive appraisal solutions with ACI Sky technology and enhanced data and analytics.
• Expanding its existing mortgage post-closing technology, products and services to help deliver loan perfection with the acquisition of TD Service Financial Corporation, a leading provider of post-closing and document management services, along with its subsidiaries, including Security Connections, Inc. (SCI).
• Launching its Vendor Management Suite exclusively for the mortgage industry to help lenders comply with requirements for increased third-party oversight. This automated, single-platform solution helps reduce loan repurchase risk related to vendor due diligence issues by enabling continuous oversight of thousands of counterparties efficiently and economically.
• Further building its data foundation across a variety of categories, which included reaching an industry-first milestone of 100% coverage for U.S. property ownership data. Over the past year, it also launched the industry’s largest, nationwide homeowners association (HOA) database, adding additional property transaction deed and mortgage coverage, as well as expanding the company’s property tax database nationwide.
In addition to helping lenders and servicers navigate compliance changes in 2017, First American Mortgage Solutions will also focus on better serving consumers. The company will continue to leverage data advancements in multiple areas to improve turn time in its title and settlement, valuations, post-closing and default services.
To support the evolution of the eMortgage, the company is partnering with point of sale technology providers, and engaging with lenders to further advancements in eClosing.
While the need for modernization and innovation is a priority, Wall stressed the importance of meeting increasing expectations around overall excellence. “Quality, superior customer service and satisfaction will never go out of fashion,” he said.