FIRST AMERICAN ANNOUNCES SIGNIFICANT GROWTH IN E-COMMERCE UNIT


September 21, 1999, SANTA ANA, Calif.

The First American Financial Corporation (NYSE: FAF), the nation's leading provider of business information products and services, today announced the release of its suite of convenient, easy-to-use, e-commerce solutions. First American's FASTWeb, FASTWin and FASTDirect are e-commerce solutions that provide convenient, electronic avenues to First American's products and services. FASTWeb offers instant access via an Internet browser; FASTWin operates as a Windows-compatible desktop application; and FASTDirect provides a direct connect solution that integrates seamlessly with a lender's loan origination system.

Highlights of the three offerings include:

  • Secure electronic ordering of multiple products
  • 24-hour order-entry and routing
  • Tracking functionality
  • Acknowledgment of order receipt
  • Status updates
  • Product delivery

    First American developed these e-commerce solutions to provide lenders of all sizes with instant, electronic access to a variety of First American's products and services, including flood, credit, title, closing, appraisal and home warranty services. "These solutions allow our customers to order and receive multiple services from our suite of product offerings through a single source," said John Hollenbeck, First American's national title processes director. (See attached product and service availability matrix.)

    FASTWeb - Internet Solution

    FASTWeb is an Internet-based option for product order and delivery. Using a standard Web browser such as Netscape® Navigator or Microsoft® Internet Explorer as an interface, customers can enter a secure Web site to order First American products and services online. Through this interface, First American can build intelligent applications that are open to any platform without the need to create specialized client-side software. "The easy-to-define search capabilities and instant order routing throughout First American's companies nationwide is unmatched," continued Hollenbeck. "For our customers who prefer to utilize the Internet, or who have the ability to access the Internet, FASTWeb is the solution of choice." FASTWeb, first introduced by the company in 1998, maintains over 30,000 registered users and handles more than 100,000 property profile reports and product orders each month. The company expects these numbers to continue to grow.

    FASTWin - Desktop Solution

    FASTWin is the single desktop application to order and receive First American products and services. From the customer's PC workstation, the dial-up or network-connected FASTWin desktop application provides the ability to order multiple products, receive confirmation of orders submitted, receive status updates as well as actual product delivery. The FASTWin application is hosted on First American servers, allowing for updates and modifications to the application without interruption of client activities. FASTWin is geared toward customers who do not have an in-house technology staff.

    FASTDirect - Direct Connection

    FASTDirect integrates seamlessly into a customer's existing loan origination system, allowing product orders to be initiated and routed to First American from the customer's system. One-time programming by the customer's in-house information technology staff will directly connect them using the FASTDirect interface.

    "We are extremely pleased with the growth of our electronic commerce efforts. Our increased volumes in FASTWeb prove the acceptance of these technology-enhanced services in the marketplace," said Parker S. Kennedy, president of The First American Financial Corporation. "We are finding tremendous success with cross selling opportunities and plan to continue to expand our multi-product e-commerce offerings, which provide increased efficiencies to our customers and added value to our shareholders."

    First American strives to be the first company in the industry to create a completely integrated system that offers its products and services to be electronically ordered, routed, processed and delivered to any customer, anywhere, using any platform, while increasing operating efficiencies and profitability by dramatically reducing costs on a per order basis.

    The First American Financial 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; real estate information and services, which includes mortgage origination, mortgage servicing and database products and services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; insurance and automotive tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance; investment advisory; and trust and banking services. Through its family of companies, First American Financial has nearly 20,000 employees in more than 600 branch offices in the United States and abroad. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.

    Any statements in this document looking forward in time involve risks and uncertainties, including but not limited to the following: the effect of interest rate fluctuations; changes in the performance of the real estate markets; the effect of changing economic conditions; general volatility in the capital markets; the demand for and the acceptance of the company's products; changes in applicable government regulations; consolidation among the company's customers; and contingencies associated with the Year 2000 issue. The company's actual results, performance or achievement could differ materially from those expressed in or implied by forward looking statement, and, accordingly, no assurances can be given that any of the events anticipated by the forward looking statements will transpire or occur or, if any of them do so, what impact they will have on the results of operations and financial condition of the company.

    FAST SOLUTIONS GRID

    AVAILABLE PRODUCTS FASTWeb Internet FASTWin Desktop FASTDirect Programming
    Credit
    Order YES YES YES
    Status YES YES YES
    Credit Information YES YES YES
    Instant Merge Report YES YES YES
    Raw Data 4Q 99 - YES
    FNMA D/U Export to LOS 4Q 99 YES -
    ANSI X12 Format - - YES
    Flood
    Order YES YES YES
    Status YES YES YES
    Flood Certificate YES YES -
    Raw Data - - YES
    Flood Determination YES YES YES
    Flood with Life of Loan YES YES YES
    Flood with Census YES YES YES
    Flood with Life of Loan & Census YES YES YES
    Get Certificate YES YES YES
    Borrower Notification YES YES YES
    Related Loan YES YES YES
    Commercial YES YES YES
    Construction YES YES YES
    Appraisal
    Order YES YES YES
    Acknowledgment YES YES YES
    Status YES YES YES
    Report Delivery 3Q 99 4Q 99 4Q 99
    Raw Data - - YES
    All available (40 plus) products YES YES YES
    Title & Closing
    Order Title YES 4Q 99 4Q 99
    Order Escrow YES 4Q 99 4Q 99
    Order Customer Service YES 4Q 99 4Q 99
    Historical Order Summary and Status YES 4Q 99 4Q 99
    Report Pick-up YES 4Q 99 4Q 99
    Customer Preference Profile YES 4Q 99 4Q 99
    Title Office Selection List 4Q 99 4Q 99 4Q 99
    Custom Agency Selection List YES 4Q 99 4Q 99
    Property Lookup YES 4Q 99 4Q 99
    Property Lookup Integration to Order YES 4Q 99 4Q 99
    Status YES 4Q 99 4Q 99
    Product Delivery 4Q99 4Q99 4Q99
    Miscellaneous
    FNMA Desktop Underwriter Import 1Q 00 YES -
    FNMA Desktop Underwriter Export 1Q 00 YES -
    Raw Data (Standard and X12) - - YES
    Contour Webit Interface YES - -
    HTTP Post YES - -
    Unique User id and password access YES YES YES
    *Pending
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