First American Launches Endpoint, Invests $30 Million

By Staff 5 years ago

—New mobile-first title and escrow company delivers a re-imagined closing experience for all parties in the real estate transaction—

SANTA ANA, Calif.–(BUSINESS WIRE)–First American Financial Corporation (NYSE: FAF), a leading provider of title insurance, settlement services and risk solutions for real estate transactions, today 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.

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“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. To learn more, schedule a demo, or to view current job openings, visit www.endpointclosing.com.

About First American:

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; banking, trust and wealth management services; and other related products and services. With total revenue of $5.7 billion in 2018, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2019, First American was named to the Fortune 100 Best Companies to Work For® list for the fourth consecutive year. More information about the company can be found at www.firstam.com.

About Endpoint

Endpoint is a mobile-first title and escrow company, built from the ground up to deliver a re-imagined closing experience for real estate agents and their buyers and sellers. Through its digital platform, Endpoint keeps everyone effortlessly and securely in the know throughout the transaction, while providing a simplified real estate closing from start to finish. Endpoint was founded in 2018 by a diverse team of digital natives and industry veterans. The company is headquartered in El Segundo, California, with offices and operations in Washington, California and Arizona. For more information, please visit www.endpointclosing.com.

About BCG Digital Ventures

BCG Digital Ventures is a corporate innovation, incubation, and investment firm. They invent, launch, scale, and invest in industry-changing new businesses with the world’s most influential companies. Their diverse, multidisciplinary team of entrepreneurs, operators, and investors work cross-functionally, rapidly moving from paper to product to business in less than 12 months. Founded in 2014 as a subsidiary of Boston Consulting Group, they have Innovation Centers and satellite locations in four continents and continue to expand their footprint across the globe. For more information, please visit www.bcgdv.com.

Contacts

Media Contact:
Marcus Ginnaty

Corporate Communications

First American Financial Corporation

(714) 250-3298

Investor Contact:
Craig Barberio

Investor Relations

First American Financial Corporation

(714) 250-5214

Endpoint Media Contact:
Paul Hurst

VP Partnerships and Growth

Endpoint Closing

paul@endpointclosing.com

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