First American Title Insurance Co., Santa Ana, Calif., is merging its National Lenders Advantage and Equity Loan Services units into a new Mortgage Services division.
Over the next year, all of the operations of the two older units will be transitioned to the new division, which will service residential mortgage originators with national retail platforms, those who have consolidated the loan processing functions at one or more centralized facilities for greater control over efficiency, cost and quality, a spokeswoman explained.
This move takes a previous internal reorganization by First American one step further. Back in 2005, National Lenders Advantage, Regional Lenders Advantage, and Equity Loan Services were merged under one marketing name, the Lenders Advantage Division.
However, the spokeswoman for the company explained each of those three units retained its own management and technology systems. First American Mortgage Services will operate under a single management team, consisting of Pat McLaughlin, division manager, and Robert Camerota, head of division operations.
McLaughlin has served in several leadership roles at First American Title since 1988, including executive management of National Lenders Advantage and National Default Title Services. Camerota’s employment history includes being a senior vice president, managing director at GMAC ResCap Residential Finance Group; an SVP at Jackson Federal Bank; and first vice president, residential lending at East West Bank.
Mortgage Services will provide custom closing solutions to lenders. But more than that, said McLaughlin First American has invested in technology, personnel and infrastructure to support complex relationships with lenders.
