First American Financial Corporation, a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced the completion of its acquisition of Bank of America’s lien release business. Bank of America’s lien release business and its employees are now part of First American’s Mortgage Solutions division, a leading provider of comprehensive solutions for residential lenders and servicers covering the entire loan spectrum. As part of the agreement, the group will continue to provide lien release services to Bank of America.
"We have taken our industry leadership in post-closing services and collateral file perfection another step forward,” said Kevin Wall, President of First American Mortgage Solutions. “The acquisition affirms our ability and commitment to provide lenders, servicers and investors post-closing services at an unmatched scale and level of efficiency, supported by fraud detection, loan quality and compliance analytics, as well as First American’s number-one industry position in real property data coverage.”
First American Mortgage Solutions’ array of post-closing products and services includes CleanFile Solutions, a single, vertically integrated suite that combines post-closing document management, loan quality control, lien release preparation and recording to cure, perfect and complete collateral files. The acquisition complements First American Mortgage Solutions’ existing best-in-class post-closing and document-management capabilities, enhancing First American’s ability to serve the lender, servicer, and investor communities.