First American LoanStar Trustee Services Expands Service Area in Northwest
Company Also Completes Relocation to New Corporate Campus
October 4, 2006, DALLAS
First American LoanStar Trustee Services, a member of The First American Corporation (NYSE: FAF) family of companies, announced today that it has expanded its operations to provide trustee services in Washington and Oregon. The company also announced the formal adoption of its new corporate name, First American LoanStar Trustee Services (formerly Mortgagee Services) and the completion of its move to First American’s corporate campus in Westlake, Texas.
“We have expanded into Washington and Oregon in direct response to a number of our clients who requested trustee services in those states,” said Christine Pummill, president of First American LoanStar Trustee Services. “In addition, we have solidified our integration with the First American family of companies by formally adopting the First American brand both in name and, more importantly, in how these services are packaged and sold to the default servicer.”
First American LoanStar Trustee Services currently performs trustee services in California, Arizona, Nevada, Washington and Oregon. The company reports that future expansion, as with past expansion, will be based on client demand.
“Consolidating this company into our new corporate campus in Westlake where the majority of our default information services companies are located has created unprecedented synergies,” said Chris Leavell, chief operating officer for First American Real Estate Information Services, Inc. and First American Default Information Services. “This move will enable us to grow these countercyclical businesses more effectively."
First American LoanStar Trustee Services has more than 70 years combined foreclosure experience and has been a reliable partner for over 10 years in multiple states. The technology and systems integration between First American and its clients allows the company to provide complete foreclosure processing, including retrieving needed documents (Deed of Trust and Assignments), preparing HUD (U.S. Department of Housing and Urban Development) occupancy letters, providing online access to title insurance products and providing title examination, curative resolutions and more. The company’s highly scalable event-tracking foreclosure system provides imaging and vendor transmission capabilities, and its batch work processing is available to handle peak cycles.
First American Default Information Services is comprised of a number of product and service companies which fall into three broad categories: outsourcing, title and property services.
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, and Risk Mitigation and Business Solutions. With revenues of $8.1 billion in 2005, First American has approximately 2,100 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.