First American Outsourcing and Technology Solutions Adds Home Affordability Modification Program Sup

—VendorScape™ Enhancements Include Modification Decisioning and Reporting Tools, Plus Integrated Online Borrower Portal to Help Servicers Accelerate Loan Modifications—

July 14, 2009, DALLAS

First American Outsourcing and Technology Solutions, a member of The First American Corporation (NYSE:FAF) family of companies and a leader in business outsourcing solutions, today announced enhancements to the loss mitigation module of its VendorScape™ platform that fully support the Home Affordability Modification Program (HMP). Further, the addition of a private-label, online communications portal increases servicer capacity to reach more borrowers and potentially modify a greater number of loans.

First American added an HMP Plan Analysis Section to its platform to automate and streamline HMP eligibility determination. The module uses an intelligent, rules-based interview, financial analysis and embedded HMP business rules to enable loss mitigation specialists to walk borrowers through the modification process. Complex waterfall calculations are performed in real time and quickly direct specialists to the optimal workout path.

The module comprises an integrated modification plan schedule, step-rate schedule and Home Affordable Modification Calculator to perform correct run rate and term and principal forbearance waterfall calculations. Further, the platform’s rules engine is flexible and fully configurable allowing servicers to quickly adapt the solution to plan changes. Integrated reporting helps servicers comply with the extensive reporting requirements that must be followed to qualify for HMP compensation. The platform is able to automatically generate, distribute and track modification documents sent to homeowners and image, store and record executed agreements. In addition, specialists can quickly and easily order valuation, credit and tax data though the platform in order to expedite modification and other workout decisions.

First American said it has also added a private-label borrower Web portal to give lenders additional loss mitigation capacity and provide borrowers with new options to work through appropriate loan modification or loss mitigation scenarios. The new online tool allows borrowers to respond to direct-mail and call campaigns without potentially uncomfortable or “embarrassing” conversations with live representatives. Instead, borrowers who are directed to the portal can answer questions about their financial situation, upload necessary documents and receive loan modification information and offers. The portal gives servicers an additional, automated channel they can use to communicate with borrowers, gather information and deliver outbound offers at any time of the day or night.

Scott Brinkley, senior vice president for First American’s Outsourcing and Technology Solutions division said: “The Obama administration’s Home Affordability Modification Program is the template that servicers are expected to use to modify between seven and nine million mortgages over the next few years. Our new enhancements embed the HMP business rules into our loss mitigation platform and deliver new tools for servicers as well as connectivity to other vendors required to execute these modifications. These solutions give servicers the ability to accelerate alternative workout paths, because borrowers who do not qualify may continue the process with the same processor in the same system. Our new portal also removes some of the anxiety from the loan modification process and encourages borrowers to ask for help earlier.”

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



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