First American Announces Internet-Based Credit Reporting Solution for Automotive Dealers and Lenders
The First American Corporation (NYSE: FAF), the nation’s leading provider of business information and related products and services, today announced the addition of FASTCredit to its suite of Web-based, business-to-business e-commerce productivity tools for the automotive finance industry.
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“In the automotive industry, having immediate credit information from all three bureaus, which include Experian, Equifax and Trans Union, can make the difference in converting a prospect to a customer and ensuring a seamless and successful sales transaction,” stated Eric Rumsey, senior vice president-general manager of the Credco division of First American Consumer Information Services Group. “The FASTCredit solution is the nation’s first secure, encrypted Internet access to near real-time information for credit decision makers in the automotive industry.”
FASTCredit is a significant technology advancement for automobile dealers and lenders that wish to take advantage of gains available from Internet-based products, services and tools to enhance their efficiency and productivity. “FASTCredit can significantly reduce telecommunication costs for users,” Rumsey added, “and we believe the speed and convenience of FASTCredit will quickly make it the e-commerce centerpiece of credit extension and efficient workflow for those dealers and lenders focused on productivity and profitability in the electronic age.”
FASTCredit is a fully secure, electronic delivery system of Instant Merge® credit reports, which can be viewed online or printed. Subscribing to FASTCredit is convenient and easy through an electronic application available at www.fastweb.firstam.com
The First American Corporation, based in Santa Ana, Calif., is the nation’s leading provider of business information and related products and services. The corporation’s three primary business segments include: title insurance and services; real estate information and services, which includes mortgage information services and database information and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; 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.
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