Business Editors
SAN JOSE, Calif.--(BUSINESS WIRE)--March 5, 2001
OriginatorNetwork users can now order First American products and
settlement services online
Myers Internet, Inc., a leading provider of Internet infrastructure to the mortgage industry, announced
today that it will now offer First American products and services to its 1,700 OriginatorNetwork clients.The First American Corporation (NYSE: FAF) is the nation's leading diversified provider of business information and related products and services.
First American will offer residential title insurance, closing processes, flood determination and compliance, and appraisal and property valuation on the OriginatorNetwork. Using the OriginatorNetwork, mortgage originators can streamline their loan approval and submission processes by ordering credit reports, appraisal, title and other related services online.
"We have integrated a variety of settlement services so that originators can seamlessly order services from one central location," said Warren H. Myer, chief executive officer of Myers Internet, Inc. "Unlike other broker portals that offer simple navigation links, we believe in providing completely integrated, seamless solutions to our clients. First American has been leading the industry in adopting technology to streamline the mortgage process. By working together, Myers Internet, Inc. and First American will be able to further automate the loan process."
Once customer data is entered on the OriginatorNetwork and the broker has selected First American to provide any related services, First American's advanced e-commerce system, FASTWeb(TM), will facilitate the seamless ordering of products and services. This technology improves brokers' efficiency by eliminating the need to re-type data that has already been entered.
"We decided to partner with Myers Internet, Inc. for a number of reasons, not the least of which was its great relationship with the mortgage broker community," said Larry Davidson, vice president of e-commerce lending at First American. "Our aim is to continue to provide brokers with considerable efficiencies and access to a suite of First American products and services through the OriginatorNetwork."
Since its launch late last year, the OriginatorNetwork has become the nation's leading portal for mortgage brokers, and OriginatorNetwork settlement service transactions have increased 264 percent in January 2001 from December 2000 levels.