FirstAm to Streamline Post-Closing Processes
Santa Ana, CA-Realizing the demand for more meticulous post-closing practices, First American Document Solutions here has launched ePostClosing.com, its new online portal designed to help lenders and servicers reduce their post-closing document management costs and improve investor compliance.
ePostClosing.com enables lenders and servicers to handle all of their document retrieval, trailing document, lien release and assignment tasks through a single online system. The platform offers customers access to the company's property database, which includes more than four billion imaged records and access to a nationwide network of abstractors and field researchers. By utilizing ePostClosing.com, servicers will be able to accelerate the delivery of data and documents, centralize post-closing document management and eliminate overlapping document and quality control functions.
"When you hear about docs it's generally around origination," said Robert Karraa, chief operating officer of First American Document Solutions. "We're at the tail end of that. We look at all the doc solutions throughout the lifecycle of the loan. Our bread and butter is post-closing and retrieving all the documents. We also have an e-vault for storage and retrieval. In the past, lenders had to go to multiple sources. For the most part it was a manual tracking process."
The services that are available online through include document retrieval, trailing documents and title policy retrieval, lien releases, e-recording and automatic MERS updates and delivery to borrowers, assignment services and electronic vaulting. "The market environment has changed over the last year," continued Mr. Karraa. "Lenders want to make sure they're compliant."