- First American Data & Analytics launches VeriTitle™, a novel solution to speed up mortgage and home equity loan origination.
- VeriTitle™ integrates proprietary data to address title challenges early in the loan application process.
- The solution enhances decision-making efficiency, leading to faster loan closings.
First American Data & Analytics, a division of First American Financial Corporation (FAF, Financial), has introduced VeriTitle™, a groundbreaking solution designed to accelerate the mortgage and home equity loan origination process. By providing comprehensive title intelligence early in the loan application stage, VeriTitle™ aims to streamline decision-making and enable quicker closings. This innovative solution integrates proprietary first-party property data to assess title conditions and validate property information, addressing potential title challenges such as resolving liens, correcting title errors, and confirming property ownership at the onset of the origination process.
The VeriTitle™ platform offers preliminary title evaluations, helping lenders differentiate between loans ready for accelerated closing and those that require further title work. Delivered via API, the solution seamlessly integrates with leading loan origination and point-of-sale systems, harnessing First American's extensive lien data and advanced analytics capabilities. This integration is intended to improve lenders' workflows and enhance their capacity to close loans more effectively.
According to Robert Karr (Trades, Portfolio)aa, president of First American Data & Analytics, "VeriTitle helps lenders streamline decision-making and fuels faster, more efficient closings, helping foster stronger relationships with their borrowers and grow their mortgage and home equity business." The deployment of VeriTitle™ supports First American's strategic goal of leveraging its industry-leading data assets to provide lenders with innovative tools and actionable insights, boosting efficiency and reducing costs.
First American Financial Corporation (FAF, Financial) continues to lead in providing title, settlement, and risk solutions for real estate transactions, utilizing its unmatched data assets to drive digital transformation within the industry. For more comprehensive information on VeriTitle™, visit First American Data & Analytics.
