First American CoreLogic Announces Free ePropertyWatch Monitoring Service for Homeowners
—Free Service Targets “House Stealing” and Provides Monthly Reporting on Home Values, Recent Neighborhood Sales, Price Trends and Foreclosure Activity—
October 12, 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 introduced a free service that provides homeowners with valuable information on their home and surrounding community.
The service, called ePropertyWatch (patent pending), provides homeowners with regular email updates on the value of their property; recent sales, price trends and foreclosure activity in their neighborhood; and public record filings against their property. All homeowners whose homes are included in the database coverage are eligible for the service.* Homeowners can register for this free service at www.epropertywatch.com.
Monitoring of public record filings against properties is increasingly needed to guard against a new and dangerous type of identity fraud called “house stealing.” In a house-stealing scam, con artists target a specific property and assume the identity of that owner by creating fake identification documents. They then purchase real estate forms easily obtained from office supply stores and, through forgery and misrepresentation, file these deeds with the proper public authorities, thereby transferring properties fraudulently. So, even though an owner may be living in a property and making their monthly mortgage payments, somebody else may have assumed ownership on paper and refinanced or even sold the home. Although the homeowner would ultimately be protected, this type of fraud can damage the owner’s credit and create significant legal issues.
First American CoreLogic created ePropertyWatch as a free service to allow homeowners to manage the value of their homes and protect themselves against fraud. The company, which has more than 600,000 customers, monitors more than 65 million properties in 1,100 counties, as well as approximately 4.5 million real estate transactions per month. Its customers include government agencies, lenders and mortgage brokers, real estate agents, appraisers, title insurance companies and investment firms.
“We want to do everything we can to help homeowners protect their investment in their home,” said George Livermore, chief executive officer, First American CoreLogic. “In this difficult real estate market, homeowners have become keenly aware of the need to monitor the value of their home, watch for real estate trends that affect their community and protect themselves against fraud. This is an easy way for homeowners to make sure they’re on top of the activity affecting the value and security of what is, for most people, their largest investment.”
*Not available in all areas.
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.