First American Financial Corporation’s digital closing platform firm Endpoint is now offering a suite of integrated title tools specifically designed for proptech companies, investors and tech-forward real estate organizations looking for a scalable digital closing platform.
Endpoint said its new solutions include APIs that automatically open title orders, track transaction statuses, exchange documents, and provide title agents and their clients with custom reporting features and notifications.
“At Endpoint, we’ve built our company around the singular mission of making the real estate closing experience as seamless as possible,” Scott Martino, the CEO of Endpoint, said in a statement. “The combination of our proprietary technology built specifically for the purchase transaction, centralized team of closing experts and expanded nationwide reach makes Endpoint the right partner for proptech companies and investors.”
Endpoint is currently licensed in 36 states and the firm said it plans to be licensed in 43 states by the end of the year.
“With the ability to operate at scale, Endpoint offers proptech companies, investors and other tech-forward organizations the advantage of embedding a purchase-centric platform into their applications, without the challenge of building or purchasing a title company,” Paul Hurst, the chief innovation officer of First American, said in a statement.
During First American’s second-quarter earnings call with investors in late July, the title underwriter noted that Endpoint recorded an estimated $12 million pre-tax loss for the quarter.
Why proptech intergration is more important than ever
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Mark Seaton, First American’s chief financial officer, told investors that they “expect Endpoint losses to bottom out in 2022, with earnings improvement in 2023 and beyond.”
Ken DeGiorgio, the CEO of First American added: “I think the endgame [for Endpoint] is twofold. One is to improve the efficiency in our business. But secondarily is to meet the demands of a changing customer base, I mean there are customers that want this digital first experience and Endpoint is rapidly expanding to provide it. And that’s on, I guess, what you’d call the retail side and also with proptech companies.”
