TheMReport — News and strategies for the evolving mortgage marketplace.
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38 | M R EP O RT Top 25 Fintech Innovators HEADQUARTERS LOCATION: Santa Ana, California PHONE: 866.377.6639 WEBSITE: datatree.com HEADQUARTERS LOCATION: Austin, Texas PHONE: 512.418.8989 WEBSITE: FirstClose.com First American DataTree FirstClose COMPANY DESCRIPTION: First American DataTree is the nationwide property, homeownership, and mortgage information solution lenders and servicers depend on through- out the mortgage lifecycle—from customer acquisition and underwriting to post-close, servicing, and REO. DataTree is the mortgage industry's most trusted source for the broadest data coverage, including public re- cord data covering 100% of the U.S. housing stock, nearly 7 billion record- ed document images, title plants, HOA information, and real estate listings. INNOVATION SPOTLIGHT: • DataTree.com—Single online solution delivering nationwide prop- erty data, ownership information, mortgage insight and document retrieval capabilities. Built on the industry's largest database of property information and document images, DataTree.com stream- lines research tasks to deliver a comprehensive, intelligent solution throughout the mortgage lifecycle. • Data Depth & Breadth—DataTree.com provides a more complete view of client portfolios with targeted data asset insights, includ- ing: HOA information in every state—including super lien states and PACE loans. • Enhanced with FlexSearch—Powerful recorded document search and discover tool enables clients to instantly search keywords or phrases within billions of document images. • Patent-pending Verified Record—Innovative technology digitally matches property information against multiple, independent data sources enabling clients to validate borrower-supplied information. • Client-focused Innovations—Through the combination of advanced map, proximity, address, owner, APN, and advanced search features in a single experience, clients can research multiple properties in parallel. COMPETITIVE ADVANTAGE: Leveraging the unrivaled depth and breadth of First American data as- sets—100% geographic coverage for property ownership data, nearly 7 billion document images, 1.8-plus million active real estate listings, and more—our continued investments and innovations in data, tech- nology and people have helped our customers succeed. COMPANY DESCRIPTION: FirstClose is a highly respected provider of best-in-class property & bor- rower data intelligence that delivers technology solutions to mortgage lenders nationwide and serves as a powerful SaaS platform that provides access to national and local real estate service providers via the web or direct LOS integration. INNOVATION SPOTLIGHT: • FirstClose ONE—the industry's only home equity and refi tool that compiles everything from application to servicing (credit, valu- ation, title, flood, closing, and recording) on one easy-to-navigate platform. Rather than spending time gathering information from a host of separate vendors, FirstClose's technology gathers everything a lender needs and compiles it all in one report, saving time, money, and headache. • Suitability Logic—One feature that makes FirstClose ONE so unique and innovative is suitability logic, which allows lenders to automate many of their decisions. Suitability logic is a method that uses real- time property data, geo location, and market conditions to determine the most suitable valuation and title products for each loan scenario. TESTIMONIAL: "FirstClose gives our members a much better borrowing experience. Its AVM cascade sped up our underwriting decisions. Their desktop valuations are done in three days—instead of waiting on full appraisals— and title work is back the same or next business day, so our turn times are much faster. Their customer support is second to none." —Ashley Love, Supervisor, Credit Administration, Truliant Federal Credit Union