First American Real Estate Solutions has partnered with Bohan Group, aiming to provide more advanced due diligence services to mortgage investors, the company announced today.
In connection with the partnership, First American has purchased a minority interest in Bohan Group, which provides risk analysis and transaction support services to the capital markets. Details of the investment were not disclosed.
“The aim of this partnership is to create new technologies that improve the due diligence process for our clients,” said George Livermore, president of The First American Corp.’s Property Information and Services Group.
Today, investors often wait weeks to receive due diligence results on a sample of bulk loan files. Bohan Group plans to leverage its access to First American’s data and image repositories, automated valuation models, and analytics to enable a more comprehensive review of loan files with initial reports returned to clients within days.
This new methodology promises to reduce compliance risk and assist due diligence analysts with analytics that enable them to more quickly identify loan quality and conformance.
Primary services provided by the Bohan Group include residential due diligence, fulfillment center services, credit underwriting, regulatory compliance reviews, predatory lending audits, post-close quality control reviews and staff leasing. Bohan Group’s clients are leading secondary market participants including investment banks, depositories and mortgage lenders nationwide.
First American Real Estate Solutions provides property and ownership information, analytics and services the real estate and mortgage industries. Bohan Group provides
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