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First American’s data solution creates clear and efficient data reports

Lenders and servicers can define their own unique data configuration of data or use one of many pre-determined use case datasets

Xtent, by First American Mortgage Solutions, is the next generation information report for the mortgage industry, helping lenders and servicers make critical risk decisions by providing accurate title, property and borrower data from more than 30 data sources into a single report.

Gone is the task of cobbling together data from multiple sources or vendors to assemble needed information. Instead, Xtent is configurable, enabling lenders and servicers to quickly and easily customize a report based on their risk tolerances. Users select from data points ranging from title and lien information, borrower financial/fraud risk to compliance risk checks and ownership/occupancy to configure the report to their business need.

Xtent also provides an instant data summary with easy-to-understand analytics and alerts that highlight risk issues requiring due diligence. As a result, users can quickly identify and prioritize tasks, helping to expedite the review process.

Due to its versatility and flexibility, Xtent is applicable across the lending spectrum, inclusive of: pre-marketing, home equity origination, portfolio risk monitoring, MSR transactions and default decisioning from loan modification to foreclosure. For each of these use cases, Xtent identifies, bundles and returns the core data most relevant to the situation to simplify decision-making.

Take MSR portfolio transfers for example. For this use case, Xtent would include data for open mortgage liens, involuntary liens and judgements, property tax, vesting information and property and borrower risk indicators.

With the ability to use either the pre-configured data sets or leverage APIs to quickly and easily configure their own custom report, lenders and servicers can expect to create efficiencies and reduce cost by reviewing all relevant data in one report without ordering multiple reports from multiple vendors.

To learn more about First American Mortgage Solutions and Xtent Configurable Data Solution, visit https://www.firstam.com/mortgagesolutions/solutions/cleanfile-solutions/xtent.html.

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