Vesta Integration with First American Data & Analytics’ FraudGuard® Solution Powers Seamless Fraud Detection and Decisioning

Rhea-AI Summary

Vesta has integrated its mortgage loan origination system with First American Data & Analytics’s FraudGuard solution for enhanced fraud detection and decisioning. This collaboration aims to streamline the mortgage process for lenders by automating fraud risk assessments. Vesta’s cloud-native API allows easy access to the FraudGuard system, improving efficiency and borrower experience. This integration positions Vesta's platform as a comprehensive tool for lenders, ultimately supporting digital automation in mortgage services.

Positive

• Integration of Vesta's LOS with FraudGuard enhances fraud detection.
• Automation capabilities streamline mortgage processing for lenders.
• Cloud-native APIs improve operational efficiency and reduce costs.

Negative

• None.

Vesta, the modern LOS, integrates with FraudGuard solution to offer automated fraud detection and decisioning supporting end-to-end digital fulfillment

SAN FRANCISCO & SANTA ANA, Calif.--(BUSINESS WIRE)-- Vesta, the modern mortgage loan origination system (LOS) and software-as-a-service company, and First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation (NYSE: FAF), today announced an integration between Vesta’s LOS and First American Data & Analytics’ FraudGuard solution, a leading fraud detection and decisioning tool that leverages public, private and proprietary data sources to help lenders identify risk and assess overall loan quality.

Vesta’s next-generation LOS is built from the ground up to allow lenders to automate as much of their mortgage processing as possible using the system’s no-code workflow and decisioning engine. The integration allows lenders of any size to easily leverage the FraudGuard solution via Vesta’s open, cloud-native API’s that enable seamless integrations.

“This collaboration between Vesta and the First American FraudGuard solution’s robust risk mitigation offerings will yield meaningful efficiency gains for our lenders, providing them with a foundation to create better borrower experiences. Incorporating the FraudGuard solution’s capabilities into our advanced LOS is an exciting expansion of our relationship with First American,” said Mike Yu, Vesta CEO.

The seamless integration was built with lender efficiency in mind. It offers the ability to clear the alerts directly in the LOS and automatically returns the fraud risk report into Vesta’s document repository, allowing processors and underwriters to interact with data from the FraudGuard report, while remaining in the Vesta platform.

“Integrating our FraudGuard solution with Vesta’s platform delivers actionable fraud risk insight that will help lenders save time, reduce costs and increase operational efficiencies while delivering a seamless experience, and reflects our commitment to help lenders with their pursuit of end-to-end digital automation,” said Paul W. Harris, General Manager, Mortgage Analytics for First American Data & Analytics.

About First American Data & Analytics:

First American Data & Analytics, a division of First American Financial Corporation, is a leading national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 7.5 billion document images. Its major platforms and products include: DataTree^®, FraudGuard^®, RegsData^®, First American TaxSource™ and ACI^®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.

About First American:

First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 130 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $9.2 billion in 2021, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2022, First American was named one of the 100 Best Companies to Work For by Great Place to Work^® and Fortune Magazine for the seventh consecutive year. More information about the company can be found at www.firstam.com.

About Vesta:

Vesta is a SaaS provider of mortgage loan origination software. The platform provides lenders with a modern system of record, and customizable workflows for an end-to-end mortgage loan fulfillment process. Headquartered in San Francisco, CA, the company was founded by early Blend employees Mike Yu and Devon Yang in 2020. Investors backing Vesta include: Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures and Zigg Capital. For more information, visit: www.usevesta.com, or Vesta’s LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221005005099/en/

Media Contacts:

Lydia Green

Vesta

lydia@usevesta.com

415-216-0103

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

714-250-3298

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

(714) 250-5214

Source: First American Data & Analytics and Vesta

FAQ

What is the significance of the Vesta and First American integration for FAF stock?

The integration enhances operational efficiency and fraud detection in the mortgage process, potentially positively affecting FAF stock value.

How does the FraudGuard solution benefit lenders using Vesta's LOS?

FraudGuard provides actionable fraud risk insights, saving time and reducing costs for lenders.

When was the integration of Vesta and FraudGuard announced?

The integration was announced in a press release on October 5, 2022.

What impact might this integration have on Vesta's market position?

The integration could strengthen Vesta's market position by enhancing its service offerings and attracting more lenders.