“As the mortgage finance industry adapts to the dynamic regulatory environment and technological disruption in today’s marketplace, we’re committed to investing and innovating in order to drive operational efficiency and maintain regulatory compliance, all while delivering an exceptional customer experience,” said Kevin Wall, president of First American Mortgage Solutions. “Through a series of strategic investments and by leveraging deep assets across First American, we’ve expanded our capabilities and reach across the mortgage loan spectrum, reaffirming our unwavering commitment to the Pursuit of Certainty in Lending and to supporting lenders and servicers.”
Among First American’s strategic investments over the last year were:
- October 2015: Announced the completion of its union with Interthinx, including ACI. The union expanded Mortgage Solutions’ data and analytic capabilities by adding products and services in fraud and verification, regulatory compliance, automated valuation and collateral risk, quality control and fulfillment services.
- October 2015: Expanded its data solution offering to include bulk licensing of industry-leading real estate data.
- March 2016: Received independent, third-party validation of its origination and servicing quality efforts through ISO 9001 certification (the only title and settlement provider so certified). First American Mortgage solutions reported no operational issues following external audits by clients in 2016, despite increased scrutiny due to regulatory pressures.
- April 2016: Acquired Forsythe Appraisals, the largest independent residential appraisal company in the US.
- April 2016: Expanded the number of title plants offered by Data Trace, a First American subsidiary and provider of title and settlement data solutions, with the addition of 12 new geographically indexed, P-12 compliant thick title plants in Texas.
- July 2016: Launched DataTree’s new TotalView report, combining data from public and proprietary sources to provide a complete view of property, ownership, encumbrances and market data.
- September 2016: Acquired RedVision, the largest independent national provider of title and real property research.
- October 2016: Launched Vendor Management Suite, a single-platform solution to help reduce loan repurchase risk related to vendor due diligence issues.
- October 2016: Created Total Valuation Suite by merging the companies comprehensive appraisal solutions, ACI Sky technology and data and analytics with exceptional quality and customer service.
- October 2016: Acquired TD Service Financial Corporation, a leading provider of mortgage post-closing and document management services.
- October 2016: Became the first and only real estate data provider to offer 100% US coverage in property ownership data and launched the industry’s largest nationwide homeowners association database.
First American Mortgage Solutions, a leading provider of mortgage services covering the spectrum from title and settlement to regulatory compliance, has had a busy year. The company made four major acquisitions, put forth four new product offerings, and in October achieved 100% US coverage in property ownership data – an industry first.