|First American Real Estate Solutions Launches RealQuest(R).com For Lenders and Appraisers
Introduces Only Web Service to Deliver Nationwide Access To Property and Flood Data, Maps and Automated Valuation Models
ANAHEIM, Calif., Jan. 23 /PRNewswire-FirstCall/ -- First American Real Estate Solutions (RES), a member of The First American Corporation (FAF) family of companies, announced today the launch of RealQuest(R).com, a comprehensive source of property data, maps, flood data, ownership and financing information, comparables and automated valuation models (AVMs) via the Internet.
Designed to meet the needs of lenders and appraisers, RealQuest provides access to the nation's largest and most robust property database through a simple interface that requires no special training or installation disks. First American RES is scheduled to release an expanded version of RealQuest during the first quarter of 2002 that will include document images, legal and vesting reports, and expanded search and reporting fields including additional functions to accommodate commercial property searches.
"RealQuest is an important tool that gives our customers a new level of efficiency," said George Livermore, president of First American Real Estate Solutions. "This is in keeping with our long-standing tradition of being the first to market with innovative solutions that help our customers improve their operating efficiency and market responsiveness."
Located on the Web at www.realquest.com , RealQuest is the first Web-based property information service to address mortgage borrower prequalification, loan underwriting, quality control and appraisal automation applications. RealQuest subscribers receive instant access to detailed property and ownership information, financing information, sales analysis, parcel maps and automated valuation models. RealQuest provides for standard or customized searches and property reporting preferences. Report packages launched from a single property search can include a detailed property profile with sales history and property characteristics, comparable sales profiles, street map images showing the location of the subject and recently sold properties, a parcel map image and a proprietary multimethod property valuation model.
First American RES is the only company to control every aspect of AVM performance, from data collection and standardization to delivery of real-time valuations with supporting information through a variety of channels, including Web browsers, XML feeds, wireless connections, private label programs, Windows(TM) desktop solutions or bulk licensing arrangements. First American RES provides advanced applications and property information for use by real estate and mortgage finance companies to help consumers and businesses buy and sell real estate; value residential and commercial properties; study real estate trends and neighborhood characteristics; and identify consumer prospects for financing, insurance and home improvement services. The company compiles its real property ownership, sales and financing data from public record, appraisal and multiple listings service providers, and standardizes this data expressly for property valuation and real estate marketing applications. Its data coverage extends to 85 percent of all U.S. real estate activity, the broadest reach of any data provider. It updates its database of property profiles and real estate transactions daily, adding nearly 2 million new transfers and mortgages each month.
|Tracing its history to 1889, The First American Corporation (FAF) is the nation's leading, diversified provider of business information and related products and services. The corporation's three primary business segments include: title information and services; real estate information and services, which includes mortgage information services and database information and services; and consumer information and services, which provides automotive, subprime and direct-to-consumer credit reporting; direct-to-consumer public records reporting; resident screening; pre-employment screening; automobile title administration; property and automotive insurance tracking services; property and casualty insurance; home warranties; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com .
Vice President of Marketing of First American Real Estate Solutions
www.realquest.com / www.firstam.com