Magazine article Mortgage Banking

First American Title Offers HARP 2.0 Solution

Magazine article Mortgage Banking

First American Title Offers HARP 2.0 Solution

Article excerpt

On Jan. 3, First American Title Insurance Company, Santa Ana, California, announced the availability of an advanced title, signing and settlement program to support the efficient closing of revamped Home Affordable Refinance Program (HARP 2.0) refinancings. The program is called Quick Start HARP; and it will be offered exclusively through the residential Mortgage Services division of First American Title Insurance Company, according to a press release.

First American said the program is designed to allow lenders to develop their own "push or pull" approach to soliciting homeowners for the newly loosened HARP guidelines. The so-called push approach allows lenders to utilize their own internal loan data and First American's proprietary title automation to proactively solicit homeowners who might benefit from the HARP 2.0 program. The "pull" version would be used when homeowners contact their lender to inquire about HARP 2.0.

First American noted that under both marketing approaches, its automated title technology would deliver a title commitment to the lender in seconds, versus a non-binding tide decision. …

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