Turnarounds so quick you can close many loans on the same day the application is complete. FACT™ is First American's title effectiveness product for home equity lenders. Where online real estate data is available, your selection of FACT in the Lenders Advantage application saves you both processing time and money through automation. The FACT master loan policy protects you against losses resulting from undisclosed liens, fraud, forgery and unauthorized execution of the security instrument.
FACT provides this protection for one fee that includes the insurance premium, title verification fee, and document recording. And you pay for only those loans that close. Lenders Advantage experts will work with you to optimize the FACT program for you

• Insured, same-day or next-day title for equity can be packaged with centralized settlement services and a mobile notary signing for maximum efficiency

• Transaction type: Equity / HELOC

• Maximum loan amount: FACT is available in all approved states up to $250,000, and may be available up to $500,000 where permitted by state law.

• Product turn time: On-line (over 60%) under 30 Seconds; Manual upgrade 1-3 days

• Availability: All states except AK, FL, NM, OK, OR, TX and WY.

Benefits:

• "Close Today" option allows you to close many transactions the same day

• Priced competitively to non-insured title products

• Insured coverage to increase value on secondary market

• Standard & Poor's product endorsement

Accelerated, insured title for refinance; qualified through credit data can be packaged with centralized settlement services and a mobile notary signing for maximum efficiency.

• Transaction type: Refinance

• Maximum loan amount: $1,500,000

• Product turn time: Under 3 minutes (transactional); 1 day per 10,000 records (batch)

• Availability: All states except DE and NM

Benefits:

• Designed as fastest title and closing available for refinance transactions

• Full coverage through short-form Alta, widely accepted on secondary market

• Most inclusive program of its kind - cashout, all ltv and investment allowed

• Discounted settlement and simplified 10-tier title rate structure

Insured, centrally-produced title for refinance packaged with centralized settlement services and a mobile notary signing for maximum efficiency.

• Transaction type: Refinance

• Maximum loan amount: $1,500,000

• Product turn time: Under 4 days average nationwide

• Availability: all states except DE and NM

Benefits:

• Standardized and simplified commitment format with curative grade

• Full coverage through short-form Alta, widely accepted on secondary market

• No title qualification process or affidavit required
  Simplified 10-tier title rate structure and nationwide settlement fee

Insured, centrally-produced title for refinance title only; no settlement services (recording coordination required through lenders advantage).

• Transaction type: Refinance

• Maximum loan amount: $ 1,500,000

• Product turn time: under 4 days average nationwide
  Availability: all states except DE and NM

Benefits:

• Standardized and simplified commitment format

• Full coverage through short-form Alta, widely accepted on secondary market

• Manage quality, turn time and cost by in-sourcing the settlement process

• Simplified 10-tier title rate structure and flat recording coordination fee

Centralized ordering and delivery for insured and non-insured title can be packaged with local first american settlement services or centralized lenders advantage settlement and mobile notary.

• Transaction type: equity, refinance and purchase.

• Maximum loan/sale amount: No maximum (except LCP)

• Product turn time: Varies by product

• Availability: All states (except LCP)

Benefits:

• Nationwide source for LVI, property report, LCP and Alta products

• Electronic ordering, tracking and delivery of title products

• Easily fits wholesale & retail - no process standardization or training required

• Flat, nationwide settlement fee (available for centralized settlement only)
   

OneRate -This innovation in refinance title and settlement services for California mortgages, that qualify as a prime loan, offers unprecedented simplicity and savings. For one low rate you get a complete package of standard services to close your file. There are no added miscellaneous fees to this rate. The only additional charge will be for recording fees. Make a call to one of our California centers to learn more about OneRate and how you can save your customer hundreds of dollars in closing costs.