First American launches Endpoint, invests $30M
First American Financial Corporation, a leading provider of title insurance, settlement services and risk solutions for real estate transactions, has announced the launch of Endpoint, a mobile-first title and escrow company that provides 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 innovative 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 development 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, chief executive officer at First American Financial Corporation. “Endpoint represents 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 collaboration with BCG Digital Ventures, the global corporate venture, investment and incubation arm of the Boston Consulting 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, chief executive officer at Endpoint. “That’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 home buyers and sellers, Endpoint provides a step-by-step, guided interaction, 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 complete tasks in real time, and they can access all of their title and escrow information in one place.
Significant features of Endpoint include:
- 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.