Despite what evolutionary changes may be in store for mortgage servicing, one constant that will remain is the need for quality. Having the right tools and resources designed to improve quality and efficiency while reducing costs can help lenders and servicers mitigate risk and deliver an optimal consumer experience.
First American Mortgage Solutions provides single-source post-closing and servicing solutions covering both performing and non-performing loans. This includes document services, quality control, assignment services, property valuations, loss mitigation, foreclosure and REO title and settlement services.
To help bring clarity and insight to servicing business decisions, the company also delivers real estate data, property reports and recorded document images through its DataTree property research solution, providing access to more than 5.5 billion document images.
First American Mortgage Solutions continues to bolster its capabilities through a series of strategic investments and by harnessing deep assets across the First American enterprise. Here are three prime examples:
1. It expanded its existing mortgage post-closing technology, products and services to help deliver loan perfection with the acquisition of TD Service Financial Corp., a provider of post-closing and document management services, along with its subsidiaries, including Security Connections, Inc. Since then, Mortgage Solutions has been undergoing a transformation by applying the post-closing and default assets of TD Service Financial and SCI to augment its existing resources.
2. First American Mortgage Solutions is excited to announce the debut of CleanFile Solutions at the MBA’s National Mortgage Servicing Conference & Expo. Created with mortgage servicers in mind, this comprehensive suite of offerings combines post-closing document services, loan quality control, file perfection and lien release. CleanFile Solutions will provide one consolidated source of innovative, data-driven solutions to help lenders and servicers achieve the cleanest loan files imaginable.
3. The company continues to strengthen its automated process solution that solves for cost and risk in loan modification fulfillment. The FirstMod loan modification solution allows clients to focus on communicating with borrowers and identifying the best possible program according to the borrower’s unique needs and situation.
Complementary to its broad growth strategy is the company’s emphasis on continual improvement, which has led to unmatched quality standards that received independent third-party validation.
As the only title and settlement operation to achieve ISO 9001 certification in origination and servicing, First American Mortgage Solutions reports zero operational issues following external audits by clients in 2016. This achievement is a result of its quality framework, despite an increase in audit scrutiny due to regulatory pressures.
Working with a single provider enables lenders and servicers to maximize efficiency without sacrificing quality. It allows for a more consistent process, better quality product, less expensive delivery, and a single counterparty to manage all title issues related to a property.
Only First American Mortgage Solutions can provide comprehensive servicing compliance review across all areas; access to 100% of U.S. property ownership data; and advanced, scalable service delivery from boarding through foreclosure sales, with loan scoring and reporting that allows for the identification of compliance issues.
To learn more, stop by Booth 704 at the MBA National Mortgage Servicing Conference & Expo.
Monika Peltz, VP, Division Operations
Monika Peltz oversees default title products for modifications, document creation, signing services, and recording of modifications.
Robert Phelps, VP, Division Operations
Bob Phelps came to First American through the acquisition of TD Service Financial Corporation and leads the post-closing and document services group.
Kristen Songrath, VP, Division Operations
Kristen Songrath oversees trustee services, foreclosure title, nationwide posting and publication, servicing QC, deed in lieu, and the national REO asset closing services group.