First American Title offers assistance to victims of recent disastrous earthquake ...


January 26, 1994, SANTA ANA, CALIFORNIA

Assistance to earthquake victims whose property has been damaged or destroyed in the recent disastrous earthquake in Los Angeles County was offered today as a community service by officials of First American Title Insurance Company.

Under the firm's disaster loan policy, First American offers a 50 percent rate in the cost of title insurance coverage for those who have suffered losses in the earthquake, according to Regional Vice President Thomas M. Kelley. The company established this program for disaster victims in 1966.

"This special service covers policies required by lenders for financing or refinancing the rebuilding of any structure which was partially or totally destroyed in the disaster area," Kelley said. Also covered under these policies is the financing or refinancing through a Farmers Home Administration (U.S. Department of Agriculture Rural Credit Agency) loan where property damage or severe production losses have occurred because of the earthquake.

"These policies will be provided at a 50 percent rate within 24 months of the date that a community is designated as a disaster area by gubernatorial (presidential) proclamation," Kelley explained.

"In addition, First American will gladly aid persons in obtaining copies of valuable documents lost in the earthquake," he said. "Duplicates of such documents as deeds, title insurance policies and others pertaining to property ownership may be provided after an appropriate examination of records. This service under these circumstances is, of course, without charge."

Those wishing to avail themselves of this service should apply to the customer service department at First American's Los Angeles subsidiary, First American Title Company of Los Angeles, 520 North Central Avenue, Los Angeles, CA 91203, or telephone (818) 242-5800.

First American Title Insurance Company, principal subsidiary of The First American Financial Corporation, traces its history to 1889. One of the largest title insurers in the nation, it offers title services through a network of more than 300 offices and 4,000 agents throughout the United States. It also provides title services abroad in the Bahama Islands, Bermuda, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and the United Kingdom. The company has its headquarters in Santa Ana, California.

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