A new industry partnership has derived an online, third-party solution for home buyers and sellers to to process title insurance and closing settlements.

The partnership between LoanMarket.Net, an online marketplace for buying and selling real estate-secured note investments, and First American Title Insurance Company, aims to provide online buyers and sellers with a single source for efficient and cost-effective title and settlement services.

"We believe that our centralized national solution is a perfect fit for buyers and sellers operating in an online marketplace environment," said Vincent Foley, vice President of First American Title Insurance Co. in a press statement today.

LoanMarket.Net, designed to offer existing investors and potential investors, a  neutral, open marketplace, said First American's proven technology, expertise and nationwide reach will ensure customers a seamless title and settlement process.

Write to Kelly Curran.