First American Financial Corporation, a provider of title insurance, settlement services and risk solutions for real estate transactions, announced on Tuesday the launch of Endpoint, a new stand-alone company.
Endpoint is a mobile-first title and escrow company that, according to First American, provides a re-imagined closing experience for buyers, sellers and real estate agents. First American has invested $30 million to develop and grow the company.
“Our investment in Endpoint reflects our commitment to developing innovative, state-of-the-art technologies that improve the process of transacting real estate,” said Dennis Gilmore, chief executive officer at First American.
According to the announcement, Endpoint is able to keep users securely “in the know” throughout the homebuying transaction. The company also claims to provide an overall simplified real estate closing experience.
“For home buyers and sellers, Endpoint provides a step-by-step, guided interaction, enhancing the closing experience and providing visibility into the progress of the transaction,” the announcement said. “For real estate agents, Endpoint provides a simplified closing, including frequent updates to keep them informed throughout. Push notifications alert them when buyers and sellers complete tasks in real-time, and they can access all of their title and escrow information in one place.”
Endpoint was designed and developed in collaboration with BCG Digital Ventures, a global corporate venture, investment and incubation arm of the Boston Consulting Group. The company is headquartered in El Segundo, California, and has offices and operations in Washington, California and Arizona.
“Consumers today have come to expect an on-demand digital experience across every aspect of their lives,” said Scott Martino, chief executive officer at Endpoint. “That’s why we established Endpoint; working at the intersection of technology, people and process to build a re-imagined closing experience for all parties in the real estate transaction.”
The announcement outlined some of Endpoint’s features, including:
Documents are completed in the app, with clear guidance as to what information is needed and how much time each task is likely to take;
Earnest money can be transferred digitally and all parties are notified once the money is received;
E-signatures can be completed in the platform, while a mobile notary can be scheduled to facilitate a wet-signature at no additional cost.