Archive for 'First American Corporation'

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance and settlement services for real estate transactions, today announced that its board of directors has approved a new stock repurchase plan, which authorizes the repurchase of up to $150 million of the company’s common stock. Purchases may be made from time to time by the company in the open market at prevailing market prices or in privately negotiated transactions.

The board also declared a regular quarterly cash dividend of 6 cents per common share. The cash dividend is payable on April 15, 2011, to stockholders of record as of March 31, 2011.

About First American

First American Financial Corporation is a leading provider of title insurance and settlement services to the real estate and mortgage industries, that traces its heritage back to 1889. First American and its affiliated companies also provide title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $3.9 billion in 2009, the company offers its products and services directly and through its agents and partners in all 50 states and abroad. More information about the company can be found at www.firstam.com .

Media Contact: Investor Contact:
Carrie Navarifar Craig Barberio
Media Relations Manager Director of Investor Relations
First American Financial Corporation First American Financial Corporation
(714) 250-3298 (714) 250-5214

CONTACT: Media, Carrie Navarifar, Media Relations Manager, +1-714-250-3298, or Investors, Craig Barberio, Director of Investor Relations, +1-714-250-5214, both of First American Financial Corporation

Web Site: http://www.firstam.com

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, announced today the completion of its purchase of Experian Information Solutions, Inc.’s 20-percent ownership interest in CoreLogic Real Estate Solutions, LLC (formerly First American Real Estate Solutions, LLC).  Initiated in April, the transaction closed as scheduled for the purchase price of $313.8 million.

About CoreLogic

CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations.  Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com.

CoreLogic is a registered trademark of CoreLogic.

CONTACT: Media, Alyson Austin, Corporate Communications, +1-714-250-6180, newsmedia@corelogic.com, or Investors, Dan Smith, Investor Relations, +1-703-610-5410, investor@corelogic.com

Web Site: http://www.corelogic.com

Business Information Company CoreLogic (NYSE: CLGX) Closes Sale to STG

Business Information Company CoreLogic (NYSE: CLGX) Closes Sale to STG

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, announced today the December 31, 2010, closing of the previously announced sale of its Employer Services and Litigation Support businesses to Symphony Technology Group (STG) for all-cash proceeds of $265 million. CoreLogic also estimates that it will realize a tax benefit in excess of $25 million in connection with the transaction.

STG will operate these businesses under the brand name First Advantage. CoreLogic will retain the remaining businesses that had been part of the former First Advantage Corporation that were acquired in November 2009.

Macquarie Capital advised CoreLogic in the sale process for the First Advantage businesses.

Certain statements made in this press release, including, but not limited to the estimated tax benefit to be realized in connection with the transaction, are forward-looking statements within the meaning of the federal securities laws.  Risks and uncertainties exist that may cause results to differ materially from those set forth in the forward-looking statements.  Factors that could cause the anticipated results to differ from those described in the forward-looking statements include the results of further analysis and preparation of more detailed documentation regarding the precise size and nature of the anticipated tax benefit as well as other factors set forth in CoreLogic’s Current Report on Form 8-K filed on June 1, 2010 and Part I, Item 1A of our most recent Annual Report on Form 10-K, as updated by CoreLogic’s Quarterly Reports on Form 10-Q.  The forward-looking statements speak only as of the date they are made. CoreLogic does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

About CoreLogic

CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations.  Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com.

About Symphony Technology Group

Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great software and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG’s current portfolio consists of eight global companies. For more information, visit: www.symphonytg.com.

CoreLogic is a registered trademark of CoreLogic.

First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance and settlement services for real estate transactions, today announced the acquisition of NAZCA Solutions, Inc., a Minnesota-based company founded in 2003 that leverages Web technology to aggregate disparate property datasets from multiple internal and external sources.

With the acquisition of NAZCA, First American will increase its ability to access and assemble property-related information, such as ownership, mortgage and tax data from unrelated databases in real time. The NAZCA brand will remain intact and will become part of First American’s Database Services Group, which also includes Data Trace and Data Tree.

“NAZCA has developed technology that is unique in this market,” said Robert Karraa, head of First American Financial Corporation’s Database Services Group. “Their ability to expand into new markets is unsurpassed and we are eager to leverage this as part of our overall growth plan.”

The technology acquired in the NAZCA transaction allows First American to accelerate its plan to rapidly expand title plants geographically. NAZCA will continue to market its two core products: NAZCA Online and Managed Services. NAZCA Online offers advanced search mechanisms to allow the user to gather property search data from the NAZCA browser-based platform. NAZCA Managed Services includes complete property reports, legal and vesting and custom data solutions compiled and reviewed by experienced examiners.

“The acquisition of NAZCA is a strategic move for First American that augments our overall data strategy,” said Chris Leavell, executive vice president of First American Title Insurance Company. “We look forward to leveraging the expertise of the NAZCA leadership team to accelerate our geographic, product and market expansion and to serve the settlement services industry with new and innovative products.”

“Our customers constantly seek out ways to improve efficiencies,” said Dennis Gilmore, CEO of First American Financial Corporation. “As such, this acquisition will enhance our ability to quickly develop and deliver progressive data solutions to our customers.”

About First American

First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance and settlement services to the real estate and mortgage industries, that traces its heritage back to 1889. First American and its affiliated companies also provide title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $4 billion in 2009, the company offers its products and services directly and through its agents and partners in all 50 states and in more than 60 countries. More information about the company can be found at www.firstam.com.

Media Contact:
Carrie Gaska
Media Relations Manager
First American Financial Corporation
(714) 250-3298
Investor Contact:
Craig Barberio
Director of Investor Relations
First American Financial Corporation
(714) 250-5214

SOURCE First American Financial Corporation

CoreLogic (NYSE: CLGX)Shows Home Prices Dropped 1.5%

CoreLogic (NYSE: CLGX)Shows Home Prices Dropped 1.5%

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its Home Price Index (HPI) which shows that home prices in the U.S. declined for the first time this year. According to the CoreLogic HPI, national home prices, including distressed sales, declined 1.5 percent in August 2010 compared to August 2009 and increased by 0.6 percent* in July 2010 compared to July 2009. Excluding distressed sales, year-over-year prices declined 0.4 percent in August 2010.

Highlights as of August 2010

  • The top five states with the highest appreciation, including distressed sales, were: Maine (+5.8 percent), New York (+3.7 percent), Connecticut (+2.5 percent), Virginia (+2.4 percent), and South Dakota (+2.1 percent).
  • The top five states with the greatest depreciation, including distressed sales, were Idaho (-14.0 percent), Alabama (-10.4 percent), Utah (-7.3 percent), Oregon (-6.3 percent) and Florida (-6.2 percent).
  • Excluding distressed sales, the top five states with the highest appreciation were: New York (+5.0 percent), South Dakota (+4.0 percent), Connecticut (+3.1 percent), North Dakota (+3.0 percent), and Vermont (+2.7 percent).
  • Excluding distressed sales, the top five states with the greatest depreciation were: Idaho (-11.3 percent), Michigan (-7.6 percent), Arizona (-6.5 percent), Nevada (-6.3 percent) and Utah (-4.7 percent).
  • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to August 2010) is -28.2 percent. Excluding distressed properties, the peak-to-current change in the HPI for the same period is -19.6 percent.

“Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago,” said Mark Fleming, chief economist for CoreLogic.

Full-month August 2010 national, state-level and top CBSA-level data can be found at http://www.corelogic.com/About-Us/ResearchTrends/Home-Price-Index.aspx.

* July 2010 data was revised up from no growth to 0.6 percent. Revisions with public record data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public record data to provide updated results.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion.  For more information visit www.corelogic.com

SOURCE CoreLogic