Industry News

First American streamlines real estate loan divisions

Title insurance company combines first mortgage, equity units

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First American Title Insurance Co. has combined itsLenders Advantage and Equity Loan Services divisions into a single unit, with the Lenders Advantage division providing mortgage and home equity lenders with one source for title services, the company said today. Previously, Lenders Advantage served lenders who were funding mortgages for people buying a house and hence taking out the first mortgage, and Equity Loan Services worked with lenders whose clients were taking out equity loans or second or third mortgages. The move aims to streamline First American's product and service offering to its lender customers, the company said. "By combining the strengths of both divisions, we're able to offer mortgage lenders more choice and greater service efficiency," said James J. Dufficy, executive director of First American Title's new Lenders Advantage Division. First American's objective is to build on its strength of delivering complete settlement solutions that are unique in the marketplac...