Mortgage Coach has integrated with First American Title Insurance Co. to enable lenders to incorporate title fees into custom total cost analysis (TCA) presentations. This feature will provide consumers with greater insight into their closing costs.
“When lenders couple consultative education with greater insight into loan fees, consumers feel empowered to make milestone financial decisions with confidence,” Mortgage Coach President Joseph Puthur said in a release. “By providing additional insight into closing costs, Mortgage Coach’s integration with First American Title helps lenders provide an elevated level of service that will keep customers coming back for life.”
Mortgage Coach assists lenders in providing a consultative home financing experience using digital TCA presentations to deliver accurate, actionable financial advice and compare the performance of mortgage loans over time. Loan originators can automatically generate and send custom TCA presentations to borrowers via email, text, or the Mortgage Coach mobile app because of the platform’s connectivity with lenders’ technology stacks.
Integrating with First American Title makes it possible to import exact title fees, including lender’s title insurance, recording, escrow service, and borrower closing service fees into TCA presentations.
“Mortgage Coach’s use of our API is a prime example of how First American Title can create efficiencies for our lender customers, while also simplifying the home-buying process for buyers and sellers,” Jim Dulle, First American Title’s Direct Division senior vice president and managing director, said. “We’re committed to developing and deploying innovative technologies that help improve the process of buying and selling real estate for all the parties involved.”
The first to leverage this integration was First Tech Credit Union.
“Mortgage Coach TCAs have been pivotal to providing our member family with modern, personalized home financing service that helps them achieve their financial dreams,” First Tech Credit Union Vice President of Mortgage Lending Bill Bolton said. “Using Mortgage Coach’s integration with First American Title to provide exact insight into title fees during the loan selection process demonstrates our commitment to member education and uncompromising service.”