First American LoanPerformance Mortgage Securities Database Surpasses $2 Trillion Milestone
—Growth of Data Repository Fuels Further Development of Valuable Analytics Used by Mortgage Industry and Wall Street Firms to Monitor and Analyze Credit Risk—
August 28, 2007, SANTA ANA, Calif.
First American LoanPerformance, a member of The First American Corporation (NYSE:FAF) family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced that its industry-leading mortgage securities database now contains loan-level information on more than $2 trillion worth of active nonagency securitized mortgages representing 85 percent of all nonagency mortgage securities.
“This important milestone truly highlights the unprecedented growth experienced by the nonagency mortgage-backed securities market in recent years,” said Dan Feshbach, president and chief executive officer of First American LoanPerformance. “As this segment of the bond market continues to evolve through a challenging credit risk environment, the depth and breadth of our data coverage provides our clients with the invaluable information and unique insight needed to effectively manage the risks inherent in this market.”
The First American LoanPerformance mortgage securities database is the mortgage industry’s largest repository of nonagency mortgage-backed securities (MBS) and asset-backed securities (ABS) data. Mortgage analysts, traders, servicers, securities issuers and investors rely on this critical performance information to monitor and analyze credit risk and make securities valuation and pricing decisions. In addition to its unmatched size, the securities databases provide a 16-year historical perspective on the nonagency securities market. This unique, extended view enables long-term projections that consider historical market fluctuations, enhancing the reliability of research and modeling tools developed by the database’s users.
About First American LoanPerformance
First American LoanPerformance is a subsidiary of First American CoreLogic and a member of The First American Corporation (NYSE: FAF) family of companies. First American LoanPerformance databases track the delinquency and prepayment performance of 50 million active individual mortgage payments per month and provide loan-level information on more than $2 trillion in nonagency mortgage-backed and asset-backed securities. The company’s data and suite of predictive prepayment and risk modeling solutions enable mortgage originators, servicers, securities issuers and investors to make informed business decisions about credit risk, loss mitigation, customer retention, securitization and investment. For additional information, visit www.loanperformance.com and www.facorelogic.com.
About The First American Corporation
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 First Advantage. With revenues of $8.5 billion in 2006, 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.