First American Financial announces new growth strategy Forms consumer risk management organization
September 29, 1998, SANTA ANA, CALIFORNIA
The newly formed organization, First American Consumer Risk Management, will encompass the company's consumer-related businesses such as automotive credit reporting, sub-prime automotive credit reporting, direct-to-consumer credit reporting, pre-employment screening and multi-family resident screening.
"The establishment of First American Consumer Risk Management is the result of our diversified strategy, begun in 1995, to produce consistent, high-margin income not dependent on factors such as mortgage interest rates and the real estate economy," said Parker S. Kennedy, president of The First American Financial Corporation. "Through this organization we are effectively and cost efficiently delivering information services to a new customer base of businesses, employers, landlords and consumers by leveraging our excellent relationships, as well as the expertise, data and technology currently used to service our real estate-related customers."
The First American Financial Corporation, based in Santa Ana, California, is the nation's leading provider of real estate-related financial and information services. The corporation's subsidiaries include First American Title Insurance Company, a national and international title insurer; First American Real Estate Information Services, Inc., which offers tax monitoring, credit reporting, property data services, flood certification, field inspection services, appraisal services, mortgage loan origination and servicing systems, and mortgage document preparation nationally; First American Home Buyers Protection Corporation, a home warranty company; and First American Capital Management, an investment advisory firm. The Corporation also operates First American Trust Company and First Security Thrift Company in Southern California. First American Financial has more than 17,000 employees in over 400 branch offices in the United States and abroad. Information about the company's subsidiaries and an archive of its