A pilot program restricts refinance loans to those with loan-to-value ratios below 80% in select areas. Doma is the first title insurance firm to engage, followed by Westcor, which partners with X1 Analytics and Mortgage Connect LP. Industry leaders emphasize the importance of innovation while maintaining consumer protections. Supporters, including ALTA's CEO Chris Morton, highlight the role of title insurance in promoting housing affordability and secure transactions. The initiative aims to lower costs and enhance efficiency within the title insurance sector.
Westcor CCEO Mary O'Donnell expressed, "This pilot proves that innovation and consumer protection can go hand in hand. We're grateful to Director Pulte and his team at FHFA and Fannie Mae for recognizing that innovation in title can both lower costs and preserve protections while fostering competition."
Doma Technology Chief Operating Officer Wendy Zorick stated, "It's exciting to see a major player in the title insurance industry join Fannie Mae's pilot program, which is saving homeowners money and making the closing process much more efficient. We applaud Director Pulte for his commitment to reducing closing costs for hardworking Americans."
Collection
[
|
...
]