Dynamic, No-cost Service Facilitates Collaboration Between Lawyers and Lenders
Oakville, Ontario – Dec. 3, 2007 – First Canadian Title, Canada�s leading provider of title insurance, is revolutionizing the way in which mortgages are processed through the introduction of a no-cost technology solution that allows lenders and lawyers to collaborate in real-time. Lender-Lawyer Connect™ provides a user-friendly platform that transforms mortgage closings from a compartmentalized series of starts and stops into an integrated, open and dynamic process offering greater control and efficiency.
�What we have created is a highly accurate and efficient collaborative working environment for processing mortgage information and documents,� said Don MacLeod, vice president, First Canadian Title. �Through Lender-Lawyer Connect, both parties are able to access the same information in �real time�, which virtually eliminates unnecessary delays, duplication, errors and paper. This seamless process allows lawyers to handle transactions with greater ease and certainty, while at the same time reducing costs.�
Lender-Lawyer Connect™ offers robust document management services, enhanced reporting capabilities and real-time milestone tracking. Whether accessed through a browser or integrated with existing legal conveyancing applications such as The Conveyancer® by Do Process Software Ltd. and OneMove�s econveyance™, Lender-Lawyer Connect™ provides an efficient and effective communication platform for lender and lawyer interactions. The new service builds on First Canadian Title�s proven workflow and data integration expertise, using industry-leading security protocols and scalable technology that supports nationwide initiatives.
�We have listened carefully to the lending and legal community throughout the development phase,� said MacLeod. �Lender-Lawyer Connect™ is being provided to the lending and legal communities, without charge, to enhance their business success. At First Canadian Title, we know that investment in our customers is just good business and we take pride in �Building Success Together�.�
First Canadian Title conducted a systematic review of historic mortgage processing challenges and current technology solutions and expects to see rapid adoption of this innovative industry utility throughout the country.
About First Canadian Title
First Canadian Title is Canada�s leading provider of title insurance and other related products and services for residential and commercial real estate transactions. Founded in 1991 and based in Oakville, Ontario, First Canadian Title employs approximately 1,000 people from coast to coast. Its customers include more than 15,000 lawyers and notaries nationwide, every major Canadian chartered bank, credit unions, other lending institutions, real estate agents, mortgage brokers and builders. First Canadian Title is the registered business name of FCT Insurance Company Ltd. and of the Canadian branch of First American Title Insurance Company. For more information about First Canadian Title, please visit www.firstcanadiantitle.com.
About The First American Corporation
The First American Corporation (NYSE: FAF) is a FORTUNE 500� company that traces its history to 1889. With revenues of $8.5 billion in 2006, it is America�s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people�s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. More information about the company and an archive of its press releases can be found at www.firstam.com.