First American's Strategic Markets Division Integrated into Title Operating Divisions Nationwide
September 24, 2008, SANTA ANA, Calif.
First American Title Insurance Company, the largest subsidiary of The First American Corporation (NYSE: FAF) family of companies, today announced that its Strategic Markets Division has been integrated into its core operating divisions nationwide, making its multicultural title and settlement services available to customers through First American’s regional title operations.
Landon V. Taylor, president of the Strategic Markets Division, will leave the company at the end of September to launch a national television broadcasting network that targets multicultural consumer market segments. First American’s Strategic Markets business initiatives will be led by Maria Valentin, vice president of Strategic Markets in the Southwestern region, and by Jessica Verduzco, vice president of Strategic Markets in the Eastern region.
“Landon is an excellent executive and proven leader,” stated Parker S. Kennedy, chief executive officer of The First American Corporation. “He’s done a fantastic job of building our Strategic Markets business from the ground up and we are now positioned to take our Strategic Markets business to the next level for First American and our customers. We’re confident that Landon will do well in his new venture and we look forward to exploring ways that we might work together again in the future.”
In 2003, First American Title Insurance Company implemented a comprehensive nationwide business strategy that has effectively targeted and captured the multicultural real estate market. First American is the only title and information services company to be named as a national partner by the Greenlining Institute, a nationally recognized consumer advocacy organization. The company also launched the First American Homeownership Foundation, which has worked directly and indirectly with nonprofit housing organizations to assist more than 10,000 low-income families in their pursuit of the American dream of homeownership.
Under Taylor’s leadership the company established several successful corporate partnerships with consumer advocates and multicultural trade organizations, including the National Association of Hispanic Real Estate Professionals (NAHREP), the National Association of Real Estate Brokers (NAREB), the Asian Real Estate Association of America (AREAA), Operation Hope Inc., Neighborhood Housing Services of America (NHSA), the Greenlining Institute and NeighborWorks® America.
“Under Landon’s leadership, First American created and deployed a brilliant strategy to better serve the multi-cultural markets,” said Gary Acosta, co-founder of the National Association of Hispanic Real Estate Professionals. “With this foundation in place, I am certain that they will continue to eliminate barriers to minority homeownership for many years to come.”
With the new integrated Strategic Markets structure, First American will be in a position to extend its reach into the rapidly growing national multicultural real estate market which, according to U.S. Census reports, is expected to realize the highest rate of homeownership growth over the next five to seven years.
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of The First American Corporation (NYSE: FAF), traces its history to 1889. One of the largest title insurers in the nation, the company offers title services through its direct operation and an extensive network of agents throughout the United States and abroad. The company has its headquarters in Santa Ana, Calif. Information about The First American Corporation’s subsidiaries and an archive of its press releases can be found on the Internet at www.firstam.com.
Certain statements made in this press release, including those relating to First American’s future growth and market share gains within the multicultural real estate market, and the growth of that market, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These and other forward-looking statements may contain the words “believe,” “anticipate,” “expect,” “predict,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” and other similar words and phrases. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.