Sebring Capital to Leverage First American International Services Group's Offshore Capabilities
October 23, 2006, DALLAS
First American International Services Group, a member of The First American Corporation (NYSE: FAF) family of companies, announced today that Sebring Capital Partners, L.P., a wholesale residential mortgage lender, is partnering with First American International Services Group to utilize the division’s extensive offshore capabilities.
“Sebring’s only business is helping mortgage brokers and correspondents originate loans efficiently and profitability,” said Mark Dawson, chief operating officer of Sebring Capital. “By using First American’s offshore structures, we will be able to improve the level of service we provide to our current customers, and keep pace with our tremendous growth by leveraging First American’s proven, scaleable back-end processing solutions.”
“We are pleased to be working alongside Sebring Capital,” said J. Gregory Harrington, president of First American International Services Group. “First American has invested considerably to develop a sizeable international infrastructure, and we are pleased that we can extend the benefits of offshore processing to progressive companies like Sebring.”
In 2005, the First American International Services Group was established to provide a network of offshore corporate resources dedicated to providing a wide selection of high-quality, cost-effective offshore services to the mortgage industry. This division’s primary goal is to help First American customers enhance processing efficiency by moving portions of their operations to offshore locations. Managed from
Organized in May 1996, Sebring Capital Partners, L.P., is a wholesale residential mortgage lender specializing in several types of loans, including sub-prime and Alt-A products. The Carrollton, Texas-based company employs more than 325 employees and is licensed or approved to fund first and second lien mortgage loans in 40 states. In addition to being an approved Fannie Mae and Freddie Mac seller and servicer, the company is a member of the Mortgage Bankers Association, the National Home Equity Mortgage Association, the National Association of Mortgage Bankers and various state and local mortgage broker organizations.
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, is