HousingWireHousingWire
First American Data & Analytics has launched a new product designed to help lenders identify title issues earlier in the mortgage and home equity loan process, with the goal of cutting delays and reducing closing times.
The product, called VeriTitle, provides lenders with early title status insight by analyzing property and ownership data at the start of a loan application.
According to the company, this can help identify common issues such as liens, title errors, or unclear ownership that can otherwise slow or derail a closing.
“VeriTitle helps lenders streamline decision-making and fuels faster, more efficient closings, helping foster stronger relationships with their borrowers and grow their mortgage and home equity business,” said Robert Karraa, president of First American Data & Analytics.
The tool generates a preliminary title evaluation based on data that the company says includes first-party property records and lien information. That early evaluation could help lenders determine which loans are ready for faster closings and which may require further title work.
VeriTitle is available via an API and can be integrated into widely used loan origination and point-of-sale systems.
