First American CoreLogic Announces Enhancements to TrueStandings Securities
—Latest Release Features Updated Loan-Level Loan-to-Value Ratio,Data Import Service and Loan Modification Data Integrated with Most Comprehensive Non-Agency Securities Data and Analytics Solution Available—
September 3, 2009, SANTA ANA, Calif.
First American CoreLogic, a member of The First American Corporation (NYSE: FAF) family of companies and America’s largest provider of advanced property and ownership information, analytics and services, today announced enhancements to TrueStandings Securities, its Web-based business intelligence platform that provides loan-level access to the industry-leading LoanPerformance securities database, which represents 96 percent of active non-agency securitized mortgages with history dating to 1993.
Enhancements in the latest release of TrueStandings Securities include:
- Optional current loan-to-value property record information integration: TrueStandings Securities now features the option of displaying updated loan-to-value measurements through First American CoreLogic’s TrueLTV™ solution at both the loan and aggregate level for matched non-agency mortgage securities. TrueStandings Securities also provides the property record count of outstanding mortgage-specific liens and associated recorded mortgage amounts assigned to the matched securities data.
- Data Import Service (DIS) for RiskModel: The bulk data export feature within TrueStandings Securities now features a new Data Import Service (DIS) that seamlessly integrates with the LoanPerformance RiskModel™, the only commercially available model that simultaneously considers credit, interest rate and home-price risk to project cashflows, default and loss-given default by loan type. When installed, the DIS option provides the ability to download RiskModel-ready bulk export files and then seamlessly run them through the RiskModel. The projection output files are then positioned on the end user’s local computer environment for retrieval and analysis. When the available subscription-scheduling feature is engaged, the bulk export files are generated automatically enabling true front-to-end automation of bulk export to the RiskModel for projections.
- Loan Modification Data: TrueStandings Securities now includes available data on loan-level loan modifications. This data is added monthly as modification data is made available.
“The market and our clients require faster, easier and more transparent ways to analyze underlying securities, risk and performance,” said George Livermore, chief executive officer for First American CoreLogic. “This integration provides a new level of transparency to the marketplace for assessing the underlying securities risk by leveraging our matched loan and property-level information."
With TrueStandings Securities’ 16-year perspective on the non-agency securities market, analysts and decision makers from financial institutions, rating agencies, trading companies, issuing and investment firms can access and track the most comprehensive repository of mortgage securities data with any Web browser. By leveraging this information, users can identify risks based on high concentrations of undesirable collateral underlying security holdings, analyze and evaluate portfolios quickly and create synthetic securities for more accurate benchmarking. With the intuitive user interface, users can quickly mine and analyze data visually with pivot tables and graphs, communicate between databases through a standardized, user-friendly interface and conduct complex analyses and generate monthly reports easily with the help of wizards. More information about TrueStandings Securities can be found at www.loanperformance.com.
About First American CoreLogic
First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies, is the largest provider in the U.S. of real estate, property-ownership, fraud, mortgage and mortgage securities data—and the advanced analytics that use them—for the assessment of real estate sales, collateral valuation, home price trends, mortgage originations, mortgage- and asset-based securities pricing, foreclosures, delinquencies and asset dispositions. Our market-specific data covers 98 percent of all U.S. ZIP codes and 3,059 counties in all 50 states and the District of Columbia, representing 99 percent of the U.S. population, 97 percent of all properties (140 million), more than 50 million active mortgages, and 96 percent of loan-level, non-agency mortgage securities. First American CoreLogic’s products and services enable customers to manage credit and mortgage risk, protect against fraud, acquire and retain customers, mitigate loss, decrease mortgage-transaction cycle times, value properties accurately, determine real estate trends and project future market performance. For more information about First American CoreLogic, please visit www.facorelogic.com.
About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With revenues of approximately $6.2 billion in 2008, it 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, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at www.firstam.com.