Mortgage Origination
Mortgage Origination Solutions
As the expert document provider for the life cycle of the loan, First American delivers the service, selection and support to ensure the integrity of mortgage origination documentation. Compliant, on-time, accurate and thorough, our services encompass all areas of document package creation, sending, tracking and delivery.
Delivery of Document Packages
For on-time delivery of 3-Day Disclosure Packages, First American delivers complete solutions.
The 3-Day Disclosure Packages (Good Faith Estimate, Federal Truth in Lending, ARM product disclosures, and state disclosures) must by law be provided to loan applicants within 72 hours after the receipt of a mortgage application by the lender or broker.
First American provides brokers, correspondents and lenders with a fast, accurate and convenient system to order and deliver these packages directly to the borrower.
Electronic Delivery of Disclosure Packages
Through eDisclosures, First American offers electronic document distribution directly to the consumer that is both ESIGN and UETA-compliant. Online acknowledgment of receipt by the prospective borrower is an integral part of this process.
In the event that the consumer does not view the document package within 48 hours, electronic disclosure materials can be printed out and sent overnight via First American's private-label mailing service - FirstMail.
Physical Delivery of Disclosure Packages
First American offers FirstMail, a mailing service that facilitates the timely physical delivery of federally required 3-Day Disclosure Packages to the borrower. Allowing First American to manage this critical, but time and resource consuming requirement keeps you in compliance and gives your processors more time to concentrate on other aspects of the mortgage process.
Compliance, Tracking and Auditing
First American will produce reports that can be customized to support your audit requirements, detailing when each account's disclosure package was mailed. A bar-coding system is used to track your package all the way through our system, from receipt of package data to postmarking the envelope.
Delivery of Closing Document Packages
First American provides a fast, convenient and accurate system to generate closing document packages for conventional, FHA, VA, reverse, HELOC, Texas home equity and closed-in second mortgage loans, as well as all the exotic loan programs available in the industry today.
These residential mortgage closing-specific loan documents are necessary to complete the transaction including the HUD-1 Settlement Sheet, the Truth-In-Lending Statement, a Deed of Trust or Mortgage (Security Instrument), the Note, and a variety of other documents depending upon the loan program, state and federal regulations, and lender or investor requirements.
Our process features hundreds of compliance checks at the federal, state and local levels that satisfy predatory lending and Section 32 requirements. First American supports MISMO as a method of interchanging electronic data, and all of our products are MERS-ready.