Partnership Provides Third-Party Title, Signing and Settlement Services
to Buyers and Sellers of Mortgage Note Investments
LoanMarket.NET,
the online marketplace for buying and selling real estate-secured note
investments, has partnered with First American Title Insurance Company,
the largest subsidiary of The First American Corporation (NYSE: FAF)
family of companies, to offer buyers and sellers an integrated
third-party solution for title insurance and closing settlement.
“We’re very excited to offer our buyers and sellers an integrated title
and escrow solution from First American, one of the most trusted names
in the title insurance industry,” said Jeff Freud, founder and President
of LoanMarket.NET. “Their proven technology, expertise and nationwide
reach will ensure LoanMarket.NET customers a seamless title and
settlement process.”
The First American partnership provides LoanMarket.NET and its users
with a single source for accurate, efficient and cost-effective title
and settlement services nationwide. “First American is honored to be
chosen as the settlement service provider for LoanMarket.NET’s
innovative business platform,” stated Vincent Foley, Vice President of
First American Title Insurance Co. “We believe that our centralized
national solution is a perfect fit for buyers and sellers operating in
an online marketplace environment.”
LoanMarket.NET is designed to offer both existing note investors and
those interested in investing in this asset class for the first time
unprecedented access to the market. Since its launch, LoanMarket.NET has
empowered both buyers and sellers of notes by creating a neutral, open
marketplace that brings price discovery, transparency and efficiency to
the traditionally opaque secondary market for real estate-secured
investments.
About LoanMarket.NET
LoanMarket.NET is an online marketplace for buying and selling real
estate-secured notes, including all types of commercial and residential
notes. The web site facilitates the purchase and sale of these
individual notes, which are backed by real property, to investors who
will then collect the required monthly principal and interest payments.
LoanMarket.NET provides a high level of detailed information about the
note, and the underlying real estate, including supporting
documentation, enabling investors to adequately determine a loan’s risk
and establish an appropriate price. As a neutral, open marketplace,
LoanMarket.NET brings full pricing transparency and pricing efficiency
to the traditionally opaque secondary market for real estate-secured
debt investments. For more information, please visit www.LoanMarket.NET
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of The
First American Corporation (NYSE: FAF), traces its history to 1889. One
of the largest title insurers in the nation, the company offers title
services through its direct operations and an extensive network of
agents throughout the United States and abroad. The company has its
headquarters in Santa Ana, Calif. Information about The First American
Corporation’s subsidiaries and an archive of its press releases can be
found on the Internet at www.firstam.com.
ICR
Brian Ruby, 203-682-8268
brian.ruby@icrinc.com
