First American Docutech Doubles Capacity for Loan Document Fulfillment with New Print and Mail Facility

Rhea-AI Summary

First American Docutech has launched a third print and mail facility in Irving, Texas, doubling its production capacity for loan document fulfillment. This expansion addresses a 50% increase in print service demand since March 2020, with average daily loan packages and pages printed nearly doubling since 2019. The facility enhances support for Docutech's new fulfillment API, enabling lenders to utilize print services efficiently. This investment aims to streamline mortgage workflows while ensuring compliance with regulatory standards.

Positive

• New facility in Irving, Texas, will double production capacity.
• 50% increase in demand for print services since March 2020.
• Average daily loan packages and pages printed have nearly doubled since 2019.

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• None.

SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- First American Docutech^®, the leading provider of document, eSign, eClose and print fulfillment technology for the mortgage industry, and member of the First American family of companies, announced today the opening of a third print and mail facility to meet growing demand for loan document fulfillment. Located in Irving, Texas, the new facility and automated technology will double First American Docutech’s production capacity.

“While tremendous progress has been made in the pursuit of paperless loan processes, the ability to support the increasing printing and mailing documents needs of lenders is critical,” said Amy Brandt, president at First American Docutech. “As lenders transition more of their loan processes to a digital workflow, we’re committed to supporting and streamlining the entire mortgage workflow, including printed loan document fulfillment, with compliant services, while reducing lenders’ operational costs. The new facility reflects this commitment, increasing our document delivery capacity, while enhancing regulatory compliance and quality assurance.”

The opening of Docutech’s third fulfilment center supports ongoing growth in demand for its print services, which has increased 50% in volume since March 2020. Average daily loan packages and average number of pages printed daily have both increased by nearly 100% since 2019. The new center also provides support for First American Docutech’s new fulfillment API service, which enables any lender to easily utilize the company’s print and mail services, regardless of the document generation engine utilized to deliver all state and federally compliant investor documents, as well as custom documents and disclosures.

The state and federal laws that make electronic loan closings possible include protections for consumers who do not wish to use an electronic signing process. If consumers do not choose the digital option, printed loan documents must be provided at least three business days before the scheduled closing to avoid liability under the Dodd-Frank Act’s mortgage disclosure rules.

First American Docutech provides lenders flexibility and security with always ready print fulfilment centers, loan document origination system data pushback, and detailed compliance reporting. The new fulfillment center provides lenders with added peace of mind through redundant print and mail services for business continuity, reducing compliance risk and providing safeguards against potential service disruptions at individual facilities.

About First American Docutech

First American Docutech provides an end-to-end integrated digital mortgage experience that enables lenders to accelerate the real estate closing process. The company digitizes and streamlines the creation, delivery, execution and perfection of mortgage documents. First American Docutech sets the standard in providing market-proven technology and unrivaled customer service to the financial industry. For more information, visit the company's website at www.firstam.com/docutech or follow them on social media at LinkedIn or Twitter @Docutech.

About First American

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $7.1 billion in 2020, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2021, First American was named to the Fortune 100 Best Companies to Work For^® list for the sixth consecutive year. More information about the company can be found at www.firstam.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005080/en/

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

(714) 250-3298

 

Source: First American Docutech

FAQ

What is the purpose of First American Docutech's new facility?

The new facility aims to double production capacity and meet the growing demand for loan document fulfillment.

How much has demand for print services increased for First American Docutech?

Demand for print services has increased by 50% since March 2020.

What benefits does the new fulfillment API service provide?

The fulfillment API service allows lenders to utilize Docutech's print and mail services regardless of the document generation engine used.

When was First American Docutech's new facility opened?

The new facility was announced in a press release but does not specify an exact opening date.

How have average daily loan packages changed since 2019?

Average daily loan packages have nearly doubled since 2019.