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92 CALIFORNIA First American's New Xtent of Innovation First American Mortgage Solutions, LLC, a part of the First American family of companies, launched Xtent, a configu- rable, data solution with instant property and borrower analytics, powered by First American's leading title data. is offering for lenders and servicers streamlines the review process, creates efficiencies, and identifies risk. Xtent can be delivered via multiple channels, including an integration into existing tech stacks through an applica- tion programming interface (API). It's also available as data-only, excel/CSV, or PDF reports. It includes an at-a-glance sum- mary with actionable alerts and analytics that indicates loan data inconsistencies which may need further review. is allows lenders and servicers to assess mar- keting candidates, commence origination of a new loan, define preemptive account management strategies, or facilitate MSR transactions. "Xtent will empower lenders and ser- vicers to identify and match relevant data to the corresponding risk decisions," said Kevin Wall, President of First American Mortgage Solutions. "Instead of combing through multiple reports to find the right information, cli- ents can have everything delivered in one customizable solution." Xtent provides access to over 30 con- figurable data sources from which a client can select to include or exclude, such as title and lien information, ownership and occupancy, detailed property information, borrower financial/fraud risk, and compli- ance risk alerts. By leveraging advanced artificial intel- ligence and machine-learning technology, combined with First American's leading title information repository and dozens of additional data sources, Xtent creates the most comprehensive property data solution in the mortgage industry. "With Xtent, the unique combination of property and borrower information can be assessed at first look, helping to reduce costs, identify portfolio characteristics, and streamline the entire loan review process, so lenders can make risk decisions with ease, efficiency, and certainty," Wall said. In related news, First American Financial Corporation, a provider of title insurance, settlement services, and risk solutions for real estate transactions, an- nounced the launch of Endpoint, a mobile- first title and escrow company that pro- vides a re-imagined closing experience for buyers, sellers, and their real estate agents. Developed as a new stand-alone company, Endpoint combines First American's title and settlement expertise with the innova- tive approach of an agile startup to provide a digital real estate closing experience from start to finish. First American has invested $30 million to drive the company's devel- opment and growth. "Our investment in Endpoint reflects our commitment to developing innovative, state-of-the-art technologies that improve the process of transacting real estate," said Dennis Gilmore, CEO at First American Financial Corporation. "Endpoint repre- sents a continuation of First American's 130-year history of leading the title and settlement industry in efforts to enhance the customer experience." Designed and developed in collabora- tion with BCG Digital Ventures, the global corporate venture, investment and incubation arm of the Boston Consult- ing Group, Endpoint delivers its title and escrow service through a suite of web, iOS, and Android apps. "Consumers today have come to expect an on-demand digital experience across every aspect of their lives," said Scott Martino, CEO at Endpoint. "at's why we established Endpoint; working at the intersection of technology, people, and process to build a re-imagined closing experience for all parties in the real estate transaction." For homebuyers and sellers, Endpoint provides a step-by-step, guided interac- tion, enhancing the closing experience, and providing visibility into the progress of the transaction. For real estate agents, Endpoint provides a simplified closing, including frequent updates to keep them informed throughout. Push notifications alert them when buyers and sellers com- plete tasks in real time, and they can access all of their title and escrow information in one place. Significant features of Endpoint in- clude: » All parties have real-time visibility into the closing process with progress tracking, push notifications, and secure messaging » Documents are completed in the app, with clear guidance as to what information is needed and how much time each task is likely to take » Earnest money can be transferred digitally and all parties are notified once the money is received » E-signatures can be completed in the platform, while a mobile notary can be scheduled to facilitate a wet signature at no additional cost Endpoint is already operating in Seattle and the business expects to expand its operations into California, Arizona, and Texas over the next nine months, with further growth planned through 2021. Qualia Raises $55M to Transform Real Estate Transaction Infrastructure California-based Qualia, a digital real estate closing technology company, an- nounced that it has raised $55 million in Series C financing led by Tiger Global, increasing its total funding to $95 mil- lion, alongside existing investors Bienville Capital, 8VC, and Menlo Ventures. e company will use the funds to hire top talent in their product, engineering, and go-to-market teams, with a focus on ac- celerating growth and building strategic partnerships. e funding positions Qualia to expand its role as the central technology infrastructure for all real estate transac- tions and empower digital transformation for partners. Real estate purchases are continuing to change at an accelerated pace. According to the National Association of Realtors (NAR), nearly half of all homebuyers in the U.S. found their home online in 2018, and that number is expected to rise. Addi- tionally, a Fiserv survey reports that nearly two-thirds of mortgage loan applications originated online, up from 56% in 2018. Nevertheless, NAR found that nearly 40% of homebuyers still cite paperwork and understanding the closing process as one of the most complicated aspects of homebuy- ing. "e workflow for most residential real estate transactions remains antiquated and opaque. Qualia has created a modern sys- tem of record, communication, and action for title insurance agents and mortgage originators, and we believe their software platform materially improves productiv-