First American Joins Myers' OriginatorNetwork.Business Editors SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--March 5, 2001 OriginatorNetwork users can now order First American First American may refer to:
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
Officially referred to as The First American Corporation (FAC) , (NYSE NYSE See: New York Stock Exchange : FAF FAF abbr. financial aid form ) is the nation's leading diversified diversified (di·verˑ·s 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 To turn a set of manual steps into an operation that goes by itself. See automation. 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. About The First American Corporation The First American Corporation, based in Santa Ana Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif., is the nation's leading diversified provider of business information and related products and services. The corporation's three primary business segments include: title insurance and services; real estate information and services, which includes mortgage information services See Information Systems. and database information and services; and consumer information and services, which provides automotive, subprime and direct-to-consumer credit reporting; resident screening; pre-employment screening; property and automotive insurance tracking services; property and casualty insurance; home warranties A Home warranty is an insurance contract that covers the repair and replacement costs of home appliances. The warranty generally covers equipment and appliances such as dishwashers, plumbing systems, electrical systems etc. ; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com, or contact Larry Davidson at ladavidson@firstam.com. About Myers Internet, Inc. Myers Internet, Inc. is the leading provider of Internet infrastructure to the mortgage industry. Myers' solutions allow for a completely electronic transaction, connecting consumers with originators and originators with lenders and service providers. Using Myers' Webwiz technology, an originator Originator A bank, savings and loan, or mortgage banker that initially made a mortgage loan that is part of a pool. Also, an investment bank that has worked with the issuer of a new securities offering from the beginning and is usually appointed manager of the underwriting can build a state-of-the-art customized Web site in minutes. Myers OriginatorNetwork enables originators to shop rates, process loans and connect to lenders electronically, resulting in faster processing and reduced costs. Myers electronic community is comprised of 1,700 brokerage companies with more than 10,000 originators. Its premier Web sites, OriginatorNetwork.com, BestRate.com and LoanApp.com are among the best-known mortgage-related sites. For more information visit www.myersinternet.com or call (408) 428-9960. |
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