First American Intros CleanFile Solutions To Help Lenders Perfect Their Collateral Files

Posted by Patrick Barnard on February 16, 2017 No Comments
Categories : Residential Mortgage

To give lenders, servicers and investors greater certainty in loan collateral files, from the day a loan is closed through final disposition, First American Mortgage Solutions has bundled its post-closing document management, loan quality control, file perfection, lien release preparation, and recording solutions in a single, vertically integrated suite.

The company has dubbed this new, tightly integrated suite of Web-based and man-powered solutions CleanFile Solutions.

CleanFile leverages First American’s recorded document repository and title experts to handle the important tasks of identifying and curing imperfections in loan docs, thereby mitigating risk and creating efficiencies.

Using this suite, lenders and servicers will be able to greatly simplify document retrieval and retention, imaging, assignment preparation, title policy retrieval, and replacement. In essence, they can complete any phase of the loan perfection process, as well as navigate stringent regulatory requirements.

CleanFile Solutions is powered by First American’s real estate document repository, third-party-validated commitment to quality and deep mortgage expertise. The offering also benefits from the expertise and resources acquired through First American’s 2016 purchase of TD Service Financial Corp., a provider of post-closing and document management services, along with its subsidiary, Security Connections Inc.

“CleanFile Solutions provides lenders and servicers with a unique set of post-closing capabilities, combined with the confidence of working with First American,” says Kevin Wall, president of First American Mortgage Solutions. “We now have the ability to close loan perfection gaps and complete collateral files at whatever scale needed. The more we can do for our lender and servicer clients to help achieve total loan quality, regulatory compliance and file perfection, the more they can focus on driving productivity and consumer satisfaction.”

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