First American Mortgage Solutions, the mortgage solution division of real estate service provider First American, announced today a new integration with ICE Mortgage Technology‘s Encompass platform, according to a press release.
The company says that the new integration makes First American the first title and settlement provider to offer automated service ordering through ICE’s Encompass platform, and will enable lenders to communicate in real-time throughout transactions, increase efficiency and reduce closing times.
In addition, First American says that the integration will automatically place required documents in appropriate folders in order to reduce manual tasks for loan processors.
“Our enhanced title and settlement integration with the Encompass platform reflects First American’s commitment to helping lenders close more high-quality, sale-able loans faster, while optimizing workflow and delivering exceptional customer experiences,” stated Todd McGowan, division president of First American Mortgage Solutions, in the release.
This new integration joins First American’s existing suite of solutions on the platform, including its risk identification tool FraudGuard, its title rate and fee calculator, as well as home equity, valuation, document generation and eClosing services.
First American is one of the leading title, settlement and risk solution providers in the real estate industry, with total revenue exceeding $9.2 billion in 2021.
The company’s Chief Innovation Officer, Paul Hurst, recently spoke with HW Media about the company’s continued focus on proptech and how it is looking towards mortgage technology and commercial real estate (CRE).
ICE Mortgage Technology is a cloud-based loan origination platform for the mortgage industry. It is also part of parent company Intercontinental Exchange, Inc. (NYSE: ICE). This public entity operates a number of exchanges, including the New York Stock Exchange, and investment data services.
The company’s Encompass platform has seen a number of integrations as of late, with providers like Finicity, Rocket Mortgage, and Roostify recently announcing integrations with the platform.
In other recent proptech news, Honeycomb expanded its multifamily insurance product to Texas. Fractional home-equity lender Point also raised a $115 million Series C.