Mortgage tech firm Docutech became First American Docutech on Tuesday as First American, one of the biggest U.S. title insurance companies, completed the rebranding of the company it agreed to purchase for $350 million in February.
For First American, the acquisition expands its suite of digital products as the industry moves toward a paperless mortgage, an idea that has been talked about for more than two decades but has not yet been offered as a mainstream option.
The completion of the purchase “signifies our goal to deliver an end-to-end digital mortgage with particular emphasis on the closing process, which, in turn, improves the experience for all parties – consumers, lenders and settlement agents,” said Kevin Wall, executive vice president and division president at First American Title.
Docutech’s prior management team, including President Amy Brandt, will continue to lead the company’s operations, First American said when it announced the completion of the purchase in March.
“While we are thrilled to bring together consumers, lenders and settlement agents through innovative digital technologies, we also recognize the challenges lenders face in their digital journey to optimize the entire loan lifecycle,” Brandt said in a statement on Tuesday. “As part of the holistic First American offering, we make it easier to close loans faster and digitize the entire process by offering the right solution at the right time.”