FNIS launches Instant Qualifier

March 6, 2003

Single-source provides electronic prequalification, valuation for wholesale mortgage loans

Inman News Features

Fidelity National Information Solutions today released a new Web-based product that combines its technology resources, proprietary valuation products, licensing agreements and field agent network.

The FNIS Instant Qualifier provides single-source, electronic prequalification and valuation services for wholesale first mortgage loans, aiming to increase origination volume while reducing valuation-related risks.

The product serves as a support system for the loan application and funding process for mortgage brokers and can be upgraded to an insured valuation product a the time of funding.

FNIS Instant Qualifier offers a two-tiered, phased delivery. During phase one, the product delivers a valuation, in conjunction with loan and subject property data to the mortgage broker via wholesale lenders' Web sites.

For approved loans, the product can be upgraded to FNIS' insured valuation offering known as Collateral Valuation Insurance, which combines an automated valuation model with a drive-by property inspection and an insurance policy from an AA-rated insurance carrier. The report is delivered to the lender electronically as part of the loan application process within four days of loan pre-qualification.

FNIS, a majority-owned subsidiary of Fidelity National Financial, provides technology, data and services to lenders, real estate practitioners, settlement companies, vendors and other real estate industry participants.

Copyright: Inman News Service

Contact ALTA at 202-296-3671 or communications@alta.org.

North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.