Westcor Land Title Insurance Company is partnering with X1 Analytics in Fannie Mae’s Title Acceptance pilot. The pilot is part of an ongoing effort by the Federal Housing Finance Agency (FHFA) and Fannie Mae to modernize the mortgage closing process and reduce costs for consumers and taxpayers.
Financial Technology Insights: Oro Launches OroPay for Streamlined B2B Payments
Westcor partnered with Mortgage Connect LP, a policy issuing agent, in the creation of this solution. This initiative is distinct in the marketplace as it includes a title insurance-backed product. While this policy departs from the traditional title insurance model in scope, it retains the core benefits and legal assurances that are the hallmark of the industry. This approach ensures that both borrowers and lenders are protected while supporting efforts to deliver real savings at the closing table.
At Westcor, innovation and consumer protection go hand-in-hand. The underwriter’s participation in this program reflects its long-standing mission to evolve the title industry with practical, forward-thinking solutions that preserve the foundational protections buyers, lenders, and investors have come to rely on.
Financial Technology Insights: BingX Leads with Pre-Launch Trading of Pump.fun
“We’re proud to support the GSEs’ modernization goals while continuing to uphold the core value of title insurance protecting property rights,” said Mary O’Donnell, CEO of Westcor. “This pilot proves that innovation and consumer protection can go hand in hand.”
While the title industry continues to evolve, Westcor believes this new model strikes an important balance. It brings meaningful efficiencies to the closing process without eliminating the safeguards that consumers and lenders have long relied on. In doing so, it also offers lenders a compelling alternative that is ready to deploy today.
Financial Technology Insights: Ageras Acquires Employes to Streamline Payroll Solutions
“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,” O’Donnell added.
Westcor is the largest independent title insurance company in the nation and remains committed to serving its agent network and protecting consumers in every transaction.
To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com
Source: businesswire