First American Announces Instant Home-Value Comparisons Over The Internet

- First American Announces Low-Cost Internet-Based E-Commerce Solution for Consumers and Businesses -


March 30, 2000, SANTA ANA, Calif.

The First American Financial Corporation (NYSE: FAF), the nation's leading provider of business information and related products and services, today announced that its First American Consumer Information Group has launched a new Web site www.PropertyView.com as a quick and easy, low-cost solution for consumers who want to use the Internet to help determine property values when they are buying, selling, refinancing real property or seeking a tax adjustment.

For only $9.95, Internet consumers can get valuable information and up to 30 comparable sale prices on properties spanning a half-mile radius from their target property. Each report also includes critical property characteristics, such as square footage and site amenities. PropertyView.com uses data supplied by First American Real Estate Solutions, the nation's largest real estate database covering 70 percent of all real properties in the United States. 

"In today's fast-moving real estate economy, having the right information about property values at the right time can potentially save consumers thousands of dollars," explained Don Robert, president of First American Consumer Information Group. "With PropertyView.com, consumers can now use the Internet to have instant access to information about real estate values that would formerly have been expensive and taken hours or days to collect." Robert added, "And because of our significant investments in technology, we are able to offer the service to consumers and businesses at a very low price." 

"PropertyView.com is a great consumer fulfillment solution and already available at our Web site; but we are also offering the service on a business-to-business basis to third-party Web sites as an Application Service Provider (ASP)," said Eric Rumsey, senior vice president and general manager of the Consumer Products Division. "We believe this service is a terrific 'eyeball attractor' for Internet portals and content aggregators who want to pull consumers interested in mortgage financing opportunities to their Web sites. Access to the data and e-commerce engine, as well as a suite of mortgage tools such as mortgage calculators and crucial content on refinancing, can be co-branded and are available as ready-to-use ASP supported plug-ins," Rumsey added. 

Parker S. Kennedy, president of First American Financial, stated: "PropertyView.com is one more example in a series of business-to-business and business-to-consumer Web marketing and e-commerce initiatives by the company to bring new business intelligence tools to consumers and businesses alike. PropertyView.com is a perfect illustration of how we can make life easier for our customers by combining the incredible distribution reach of the Internet with the usefulness and power of information about property, transactions and people already residing in the huge data warehouses of First American." 

Kennedy continued, "This e-commerce and ASP initiative, and many more to come, underscore our acceleration of the process of transforming our business model by leveraging investments already made in preexisting business systems with emerging technologies and new electronic delivery channels to develop additional markets and customer-impacting services." 

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 and services; real estate information and services, which includes mortgage information services and database information services; and consumer information and services, which provides home warranties; automotive, subprime and direct-to-consumer credit reporting; property and casualty insurance; property and automotive insurance tracking services; resident screening; pre-employment screening; lender-placed flood and hazard insurance; investment advisory; and trust and banking services. Information about the company and an archive of its press releases can be found on the Internet at www.firstam.com.

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