Mortgage Connect Partners with Westcor on Fannie Mae Title Acceptance Pilot: A Modern Approach to Mortgage Closing Process.

Mortgage Connect has partnered with Westcor and X1 Analytics to develop a product for Fannie Mae's Title Acceptance program, aiming to modernize the mortgage closing process and reduce costs for consumers and taxpayers. The product combines X1's title engine capabilities with Mortgage Connect's automated title curative and scalable closing process, offering a low-cost refinance transaction while maintaining industry protections. The partnership is part of an ongoing effort to modernize the mortgage industry.

Fannie Mae's Title Waiver Pilot Program, aimed at reducing closing costs and fostering competition, has welcomed a second vendor. Westcor Land Title Insurance Co., in partnership with Mortgage Connect LP, is now part of the program, joining Doma Title Insurance as the second vendor [1]. This addition is part of a broader effort by the Federal Housing Finance Agency (FHFA) to modernize the mortgage closing process and lower costs for consumers and taxpayers.

The announcement was made by FHFA Director Bill Pulte, who oversees Fannie Mae and Freddie Mac. Pulte stated that adding a second vendor would further reduce closing costs and promote competition in the industry [1]. Westcor, based in Maitland, Florida, is an affiliate of Ardán Inc. and is known for its technology-driven solutions and sound underwriting practices [2].

Mary O’Donnell, CEO of Westcor, expressed pride in supporting Fannie Mae’s modernization goals while continuing to uphold the core value of title insurance—protecting property rights. She noted that the pilot program demonstrates that innovation and consumer protection can go hand in hand [1]. Westcor partnered with Mortgage Connect LP, a policy issuing agent, to create a title insurance-backed product that departs from the traditional title insurance model but retains core benefits and legal assurances [1, 2].

The initial pilot program, launched in March 2024, is currently limited to participating lenders on refinance loans with loan-to-value ratios less than 80% in select geographies [1]. The American Land Title Association (ALTA) initially criticized the program, calling it a "political gesture" that offered false promises of savings while exposing consumers and lenders to greater financial risk [1]. However, after the recent announcement, ALTA CEO Chris Morton stated that the title industry continues to develop innovative solutions using title insurance that support housing affordability and expand access to homeownership while protecting the places people call home [1].

The partnership between Westcor, Mortgage Connect LP, and X1 Analytics is part of an ongoing effort to modernize the mortgage industry. This collaboration combines X1's title engine capabilities with Mortgage Connect's automated title curative and scalable closing process, offering a low-cost refinance transaction while maintaining industry protections [3]. The program is designed to strike a balance between efficiency and safeguards, ensuring that both borrowers and lenders are protected while delivering real savings at the closing table [2].

References:
[1] https://www.scotsmanguide.com/news/fannie-maes-title-waiver-pilot-program-gets-second-vendor/
[2] https://www.morningstar.com/news/business-wire/20250711526817/westcor-land-title-insurance-company-partners-on-fannie-mae-title-acceptance-pilot
[3] https://www.thetitlereport.com/articles/westcor-named-vendor-for-fhfa-title-acceptance-pil-94901.aspx