First American Financial Corporation’s ( FAF Quick Quote FAF - Free Report) unit First American Mortgage Solutions has announced a strategic alliance with Clarifire for seamless and effortless accessibility to its loss mitigation products and services. Clarifire has been a leader in workflow automation technology for over a decade. The company delivers a sophisticated, automated workflow engine that streamlines and integrates clients’ operations. Clarifire is designed for process-centric organizations and provides an enterprise-wide solution, dynamically coordinating interactions across multiple departments and systems. The Clarifire approach maximizes efficiencies, accountability, profitability, and most importantly, internal and external customer experience. The majority of First American business is dependent on activity in the real estate and mortgage markets, which are cyclical and seasonal. Increased mortgage financing availability has a positive effect on residential real estate activity, which typically increases the company’s revenues. In most cases, mortgage lenders desire to be protected from loss or damage in the event of defects in the title of the subject property. Lenders rely on First American for solutions to originate, close and service quality loans. First American Mortgage Solutions offers FirstMod, a product and services suite that supports efficient loan modification processing to help lenders, servicers and investors keep more borrowers in their homes. The companies announced integrating Clarifire’s workflow automation technology with First American’s FirstMod loss mitigation products and services suite. Therefore, this partnership will assist mortgage lenders and servicers who can now deliver loss mitigation documents, title reports, partial claims, and lien priority insurance directly through Clarifire user dashboards. This strategic combination will aid in cost reduction, increase compliance, provide great flexibility and automation capabilities, improve data integrity and quality, and reduce turnaround times, thus improving the overall borrower experience. In a bid to enhance the mortgage market and aid lenders and borrowers, First American has undertaken various other initiatives. It partnered with LendingQB to enable complete end-to-end digital mortgage closing solution for lenders, borrowers and settlement agents. It aided lenders, borrowers and settlement agents with a complete digital solution to streamline the closing process with safety and security. Also, First American teamed up with Home Point Financial to provide borrowers an efficient and beneficial mortgage process. Shares of this Zacks Rank #1 (Strong Buy) company have lost 9.2% year to date, compared with the industry’s decline of 7%. Nevertheless, strong fundamentals such as growing direct premiums, escrow fees and agent premiums as well as effective capital deployment should help shares bounce back. Other Stocks to Consider
Investors interested in property and casualty industry may also look at Donegal Group Incorporation (
DGICA Quick Quote DGICA - Free Report) , Fidelity National Financial Inc., ( FNF Quick Quote FNF - Free Report) and The Allstate Corporation ( ALL Quick Quote ALL - Free Report) , each carrying a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here. Donegal provides personal and commercial lines of property and casualty insurance to businesses and individuals. The company beat estimates in each of the last four quarters, with the average surprise being 86.44%. Fidelity National provides various insurance products in the United States and offers title insurance, escrow, other title related services and home warranty insurance. It surpassed estimates in each of the last four quarters, with the average surprise being 32.13%. Allstate provides property and casualty, and other insurance products in the United States and Canada. It surpassed estimates in each of the last four quarters, with the average surprise being 25.24%. Today's Best Stocks from Zacks
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