Business information provider First American (FAF) - Get First American Financial Corporation Report said Monday its subsidiary First American Real Estate Solutions has entered into an agreement with Nationstar Mortgage to provide document and lien release services following loan closings.
Nationstar selected First American RES' document tracking and recovery service, which tracks trailing documents, from inception through delivery, to investors or custodians. The service combines document tracking, document retrieval, assignment and lien release creation and recordation.
"Employing a document tracking and recovery solution on an outsourced basis allows Nationstar to deliver better service and reduce costs," the company said.
The company's shares were trading down 21 cents, or 0.5%, to $41.47 Monday.
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