First American Title Insurance has completed its one-millionth order for FACT, the company's accelerated title and settlement product that protects home equity lenders against losses resulting from undisclosed liens, poor legal descriptions, fraud, and forgery.Introduced in 2003, FACT helps lenders complete same-day closings while also mitigating their risk. Because a pre-closing title search is not required, "FACT speeds the origination process," said Paul Dorman, equity division director at First Am Title's Lenders Advantage. With mortgage fraud on the rise, FACT's insuring provisions are particularly useful for lenders operating highly automated, "low-touch" origination channels, Mr. Dorman said. A recent enhancement includes fraud prevention notification prior to closing. First American Title is a subsidiary of First American Corp., which can be found on the Web at http://www.firstam.com.
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Fast tracking closing and funding is the critical differentiator among lenders, the 2026 Mortgage-Home Equity Scorecard report from Keynova found.
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Close to one in four homeowners are currently making additional payments toward their mortgage principal beyond the monthly amount due, according to Rocket.
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The latest investor statements show the persistence of a trend in which one vintage has a higher rate of distress than others, Morningstar DBRS finds.
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The annualized new single-family home sales pace, an indicator of the U.S. Census Bureau's New Residential Sales report, declined in three of the last four months.
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Despite Treasury intervention to calm bond yields, persistent deficit pressure continues to trap mortgage rates, keeping application volume flat and squeezing origination revenue.
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Kastle lands another high-profile client, SWBC adds insurtech to its servicing platform, while other mortgage lenders also embark on new partnerships.
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