First American Teams With Neighborhood Housing Services of Phoenix

—$30,000 Donation Will Help Fund Affordable Housing and Homebuyer Education Programs—


July 6, 2006, SANTA ANA, Calif.

The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced a new partnership with Neighborhood Housing Services of Phoenix (NHSP) under which First American will donate $30,000 to support NHSP’s ongoing efforts to create larger subdivisions of affordable and sustainable housing in under-served area communities through the Phoenix Housing Partnership, a collaborative effort between NHSP, the Local Initiative Support Corporation and the City of Phoenix.  The partnership and contribution is part of a broader national alliance between First American and NeighborWorks® America, a nationwide network of more than 240 community development organizations that in the last 5 years alone has generated more than $10 billion in reinvestment and helped more than 780,000 families of modest means meet their housing needs.

“For more than 30 years, our organization has strived to educate individuals in the process of homeownership and to develop affordable housing for low- to moderate-income families,” said Patricia Garcia Duarte, executive director of NHSP.  “We have found a great friend in First American who shares our vision of developing and revitalizing communities by helping families attain the American dream of homeownership, and we hope to continue our work together for many years to come.” 

Since 2003, The First American Corporation and its subsidiary companies have led the settlement services industry in creating innovative programs to increase low-income and minority homeownership nationwide. Comprised of consumer-focused real estate financial literacy programs, training and seminars for real estate professionals, grants and investments in housing programs through trusted advocates like NHSP, and the hiring and training of First American staff to better service diverse communities, First American’s Emerging Markets Program was the first of its kind in the title insurance and settlement services industry.

“Strategic partnerships are vital to influencing real change in the communities we serve,” said Olivia “Oli” Rodriguez, Arizona Emerging Markets director for First American.  “We are honored to assist Neighborhood Housing Services of Phoenix in its continuing effort to build stronger communities—one family at a time—through the extension of homeownership opportunities to the truly deserving.  Through focused, collaborative efforts, we can make a difference.”

Neighborhood Housing Services of Phoenix, Inc. is a 501(c)(3) nonprofit organization that provides a full range of programs and services to encourage, create and support homeownership for families in Phoenix and Maricopa County, Arizona. NHSP focuses primarily on creating new homeowners through homebuyer education, homeowner education, affordable single-family infill housing and affordable mortgage loan products. In 2005 alone, NHSP assisted more than 1,200 families with education, counseling and loan services. Of these families, 50 reached their goal of homeownership within the year, and many more continue to work toward their dream. NHSP was formed in 1975 with help from the city of Phoenix and NeighborWorks America, a national nonprofit organization that provides financial support, technical assistance and training for community-based revitalization efforts in all 50 states. NHSP is a chartered member of NeighborWorks America and a licensed mortgage bank in the state of Arizona.  For more information, please visit www.nhsphoenix.org.

A strategic community collaboration, Phoenix Housing Partnership (PHP) brings together substantial community resources to address the growing need for affordable housing.  PHP intends to develop and revitalize communities that will improve the infrastructure of targeted low-to-moderate income neighborhoods and enhance the physical environment of principally low-to-moderate income areas.  PHP’s goal is to add 75-100 affordable single-family homes in Phoenix each year over the next 5 years.  Long term, it aims to create a new methodology for construction and financing of affordable homes for sale and to develop large-scale projects on an ongoing basis.    

Local Initiative Support Corporation (LISC) helps resident-led, community-based development organizations transform distressed communities and neighborhoods into healthy ones—good places to live, do business, work and raise families. By providing capital, technical expertise, training and information, LISC supports the development of local leadership and the creation of affordable housing; commercial, industrial and community facilities; businesses and jobs by helping neighbors build communities.  More information can be found at www.lisc.org.

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—a new segment that the company formed in 2005 by combining its Credit Information and Screening Information segments. 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.

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