Mortgage Connect, Westcor Land Title Insurance Company, and X1 Analytics Forge Partnership for Fannie Mae Title Acceptance Programme
breaking News: Mortgage Connect, in collaboration with Westcor Land Title Insurance Company and X1 Analytics, has announced a strategic partnership to develop a new product for fannie Mae’s Title Acceptance program. This initiative aims to streamline the mortgage closing process and reduce costs for consumers and the broader mortgage industry.
Evergreen context: This collaboration is a notable step in the ongoing efforts by the Federal Housing Finance Agency (FHFA) and Fannie mae to modernize mortgage closings. The program seeks to achieve greater efficiency and cost savings, ultimately benefiting borrowers and taxpayers.
The newly developed product will integrate X1 Analytics’ advanced title engine capabilities with Mortgage Connect’s expertise in automated title curative and scalable closing processes. This synergy is designed to lower expenses for consumers while simultaneously bolstering security within the mortgage sector.
The offering includes a title insurance product that maintains the established benefits and legal assurances that the mortgage industry has come to depend on from traditional title insurance. Crucially, it aims to strike a balance by ensuring borrowers have access to more affordable refinance transactions.
Jeff Coury, CEO of Mortgage Connect, expressed enthusiasm for the partnership, stating, “We have had a long-term relationship with Westcor, and I’m pleased to have partnered with them on this innovative product. I want to thank Fannie Mae for their collaboration over the past two years on this pilot program. We’re very proud of the work we have done to help modernize the title industry with this forward-thinking program. This product offering balances consumer cost savings with the protections our lenders and the mortgage market have come to expect from the title industry and I’m very happy to be part of this evolution.”
