The First American Corp. today introduced an integrated Web services-based production and delivery platform that can create real estate product bundles, manage electronic invoices and enable mortgage lenders to offer guaranteed mortgage packages.
First American is completing the first phase of its program to offer a streamlined, one-stop customer experience. The new platform provides access to First American’s full suite of product bundles.
“While the platform can support the traditional ordering and delivery functions of existing e-commerce platforms, its real power is its ability to provide our clients with real-time pricing on products as individual units or discounted, customized bundles,” First American SVP Roger Hull said.
The system will guarantee the quote to the customer for a period of time allowing the buyer to leave the system to shop for competitive pricing or return to execute the order at a later date, according to First American.
First American’s technology platform conforms to industry standards, including the Mortgage Information Standards Maintenance Organization’s (MISMO) designation for XML and Web services. The platform can be integrated with lenders’ existing loan origination systems and other internal or external systems. The bundling technology also enables lenders to comply with regulatory requirements for guaranteed pricing.
First American aggregates data on more than 100 million properties annually with national data coverage extending to more than 95 percent of all U.S. property transactions. The e-commerce platform is designed to work in concert with next-generation sourcing platforms.
First American’s primary business segments include title insurance and services, specialty insurance, trust and other services, mortgage information, property information, credit information and screening information.
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