Legal and Vesting

Client Need

With more than 1,000 home mortgage stores, this originator required a solution to accelerate loan approvals and reduce cost. They realized that they could also create a competitive advantage by drawing up documents while the customer was still in the branch office. The goal of this desired result was threefold: increase speed by having results within thirty minutes, reduce cost and provide higher levels of customer satisfaction.

Solution

First American CoreLogic proposed FAST Legal & Vesting, a Web-based application for direct report requests. FAST Legal & Vesting allowed the client to obtain critical property information while quickly and accurately populating loan files. The program validated property ownership, was flexible and simple for the end user. This client also leveraged Match and Append Database Solutions and additional First American CoreLogic resources for a unique and competitive outcome.

Results

Increased revenue from accelerated loan approvals is projected at $2.5 million. Costs have been reduced and additional studies have validated that this offering increased the satisfaction of the customer experience. Reports are delivered to the customer on average within 20-minutes.