First American Expands eClosing Technology Offerings

The First American Corporation (NYSE:FAF) said Friday that it is moving to expand its eClosing technology offerings as the real estate information services giant looks to gain further ground in the emerging area of paperless real estate transactions.

The company said its eClosing Services suite is designed to provide a foundation for the creation of an electronic mortgage, and offers an integrated set of capabilities that enables data and documents to be shared electronically between all participants throughout the closing process as well as providing the ability to sign or acknowledge documents electronically.

In addition, the company’s eClosing suite enables electronic asset delivery to investors while storing all documents in secure online storage.

“Lenders are constantly looking to improve both the quality and efficiency of their closing process and we believe that the eClosing capabilities we are bringing to the marketplace provide significant improvements in both of these areas,” said Roger S. Hull, chief information officer for The First American Corporation.

“First American’s eClosing Services is the first solution to bring an innovative set of eClosing technologies and services to the broadest network of settlement service providers.”

The eClosing Services platform is compliant with the Mortgage Industry Standards Maintenance Organization (MISMO) standards, and operates in a web services environment.

First American will be demonstrating its expanded eClosing Services platform at the MBA’s National Technology in Mortgage Banking Conference & Expo, March 25-28, 2007 in Tampa Bay.