First American Mortgage Solutions Helps Users of Ellie Mae Total Quality Loan Program Originate Compliant, Defect-Free Loans
October 13 2016 - 10:00AM
Business Wire
—Direct Access to First American’s
FraudGuard Data Validation Tool Automates Loan Application Review
Process for Greater Efficiency and Peace of Mind—
First American Mortgage Solutions, LLC, a subsidiary of
First American Financial Corporation (NYSE: FAF) and leading
provider of comprehensive solutions for lenders and servicers that
cover the entire loan spectrum, today announced the availability of
its FraudGuard® product through Ellie Mae’s Total Quality Loan
(TQL®) program.
FraudGuard is First American’s automated pre-funding quality
assurance tool that provides the superior analytics, reporting,
defect-trending and audit trails lenders need to originate
defect-free loans. It leverages a combination of superior data,
pattern-matching analytics and industry experience garnered from
over 28 million reviewed loans to quickly identify potential fraud
risk and errors in mortgage applications.
The TQL program is available through Encompass®, Ellie Mae’s
all-in-one mortgage management solution. TQL centralizes
best-in-class loan origination services and technologies from Ellie
Mae and third-party service providers, including First American
Mortgage Solutions.
“Ellie Mae’s Total Quality Loan program complements our own
commitment to the Pursuit of Certainty in Lending,” said Kevin
Wall, president of First American Mortgage Solutions. “This
partnership makes exceptional mortgage solutions available to TQL
users from a single, convenient screen. The addition of FraudGuard
will make it easier than ever for lenders to make real-time risk
assessments and deliver superior loan quality.”
"We’re pleased to expand the selection of service choices
available in TQL through our partnership with First American
Mortgage Solutions,” said Joe Tyrrell, executive vice president at
Ellie Mae. "This integration will improve our mutual customers’
ability to efficiently deliver high-quality loans while eliminating
significant compliance risk."
The combination of First American products and services
available through TQL and Encompass now include:
- Title and Settlement
ServicesAutomated title production, centralized and local
closing services, choice of mobile signing professional or
WebSigning™ and expedited recording services
- Home Equity SolutionsProperty
ownership reports and equiSmart™ title insurance for home equity.
equiSmart™ provides insurance for unknown liens and security
instrument forgery, among other matters.
- Valuation and Collateral RiskA
complete suite of conventional and alternative valuation products,
from standard appraisals to property evaluations, broker price
opinions and automated valuation models
- FraudGuardA next-generation data
validation tool designed to help lenders originate compliant,
defect-free loans and powered by a combination of superior data,
pattern-matching analytics and industry experience garnered from
over 28 million reviewed loans
About First American Mortgage Solutions
First American Mortgage Solutions, a part of the First American
family of companies, provides comprehensive solutions for
residential lenders and servicers covering the entire loan
spectrum. First American Mortgage Solutions, together with First
American’s broader capabilities, serves as a single source for
title and settlement, data and analytics, fraud and verification,
regulatory compliance, valuation and collateral risk, quality
control, fulfillment services, and default services. More
information about First American Mortgage Solutions can be found at
https://www.firstam.com/mortgagesolutions.
About First American
First American Financial Corporation (NYSE:FAF) is a
leading provider of title insurance, settlement services and risk
solutions for real estate transactions that traces its heritage
back to 1889. First American also provides title plant management
services; title and other real property records and images;
valuation products and services; home warranty products; property
and casualty insurance; and banking, trust and investment advisory
services. With revenues of $5.2 billion in 2015, the company offers
its products and services directly and through its agents
throughout the United States and abroad. In 2016, First American
was recognized by Fortune® magazine as one of the 100 best
companies to work for in America. More information about the
company can be found at https://www.firstam.com.
About Ellie Mae
Ellie Mae (NYSE:ELLI) is a leading provider of innovative
on-demand software solutions and services for the residential
mortgage industry. Mortgage lenders of all sizes use Ellie Mae’s
Encompass® all-in-one mortgage management solution, Mavent
Compliance Service, and AllRegs research, reference and education
resources to improve compliance, loan quality and efficiency across
the entire mortgage lifecycle. Visit EllieMae.com or
call (877) 355-4362 to learn more.
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version on businesswire.com: http://www.businesswire.com/news/home/20161013005304/en/
Media:First American Financial CorporationMarcus Ginnaty,
Corporate Communications714-250-3298orEllie Mae, Inc.Erica Harvill,
Corporate
Communications925-227-5913Erica.harvill@elliemae.comorInvestors:First
American Financial CorporationCraig Barberio, Investor
Relations714-250-5214
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