First American Launches New Home Equity Lending Option

First American Mortgage Solutions LLC has launched equiRisk, a new title, data-driven solution designed to accelerate collateral review on home equity loans, while helping reduce title risk. With demand for home equity loans increasing, loan officers armed with the real-time, point-of-sale equiRisk title report can close more home equity loans with greater confidence.

“Today’s home equity lending environment demands quick, thorough, and accurate title information to optimize every lending opportunity while mitigating common collateral risks,” said Todd McGowan, Ph.D., president of First American’s Lender Division. “Our equiRisk title report reflects our commitment to delivering innovative solutions that fuel increased lender operational efficiency and certainty.”

Designed for use at point-of-sale for home equity or refinance transactions, equiRisk is an uninsured, title data-driven solution that delivers a summary of key property information.

“The equiRisk title report provides an in-depth view of the property at the point a borrower applies for a loan, empowering lenders to estimate closing timelines and evaluate the collateral with ease and efficiency,” said Janet Newton, senior vice president of First American Mortgage Solutions. “Loan officers can then quickly identify potential property risks in seconds, improving efficiency and ensuring that critical data is captured early in the loan process.”

equiRisk provides comprehensive insights, including ownership, voluntary and involuntary liens, vesting information, property taxes, property value, HOA data, listing activity, and FEMA alerts. With equiRisk, lenders can accelerate loan processing, manage collateral risks, and reduce operational costs. The new solution is available through direct loan origination system or point-of-sale integration, API, batch delivery, or via the MyFirstAm portal.