First American "re-imagines" closing with $30m business launch

by Steve Randall13 Nov 2019

One of America’s leading providers of title insurance, settlement services and risk solutions for real estate transactions has launched a new mobile-first title and escrow company.

First American has invested $30 million in its new standalone business Endpoint which it says delivers a re-imagined real estate closing experience.

“Our investment in Endpoint reflects our commitment to developing innovative, state-of-the-art technologies that improve the process of transacting real estate,” said Dennis Gilmore, chief executive officer at First American Financial Corporation. “Endpoint represents a continuation of First American’s 130-year history of leading the title and settlement industry in efforts to enhance the customer experience.”

Among its features:

  • All parties have real-time visibility into the closing process with progress tracking, push notifications and secure messaging;
  • Documents are completed in the app, with clear guidance as to what information is needed and how much time each task is likely to take;
  • Earnest money can be transferred digitally and all parties are notified once the money is received;
  • E-signatures can be completed in the platform, while a mobile notary can be scheduled to facilitate a wet signature at no additional cost

Leveraging First American’s experience with the innovative approach of an agile startup, Endpoint offers an end-to-end digital real estate solution. It has been designed and developed in collaboration with BCG Digital Ventures, the global corporate venture, investment and incubation arm of the Boston Consulting Group.

“Consumers today have come to expect an on-demand digital experience across every aspect of their lives,” said Scott Martino, chief executive officer at Endpoint. “That’s why we established Endpoint; working at the intersection of technology, people and process to build a re-imagined closing experience for all parties in the real estate transaction.”

Planned expansion
Currently, Endpoint is only available in Seattle but the firm plans to expand to California, Arizona, and Texas in the coming months.

Further expansion is planned through 2021.

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