Jim Miller Joins The First American Corporation's Information and Outsourcing Solutions Segment
—Miller Will Manage Operations for the Outsourcing and Technology Solutions Business Line—
February 2, 2009, DALLAS
First American Information and Outsourcing Solutions Segment, a member of The First American Corporation (NYSE:FAF) family of companies, announced today that James A. Miller, former managing director of JP Morgan Chase, has been named managing director of operations for the segment’s Outsourcing and Technology Solutions business line
In his new role, Miller will be responsible for the operations of First American Outsourcing and Technology Solution’s seven businesses, which include National Default Outsourcing, National Claims Outsourcing, Loss Mitigation Services, Loan Production Solutions, Real Estate Owned (REO) Servicing, Default Technology and Global Offshore Services.
An industry veteran with nearly 25 years of experience in prime, non-prime and home equity servicing, Miller managed default operations for JP Morgan Chase’s Mortgage Servicing Division for the past three years. During that time, he managed more than 4,800 employees at multiple servicing sites. He also oversaw the integration of servicing operations after the merger between Chase and Bank One, the re-engineering of a collection and default processes to increase the focus on loss mitigation, the revamping of all behavior score models and loss analyses and the establishment of a 1,500-person default operations site in Dallas. He also helped design Chase’s newly announced loan modification program: The Way Forward.
Prior to joining JP Morgan Chase, Miller held senior default management positions at Citigroup, Conseco Financial Servicing and Option One Mortgage. Miller began his career as a collection manager at a savings and loan in Chicago. “Jim is a nationally recognized expert in loss mitigation and default management and he is an excellent fit for this business line,” said Scott Brinkley, executive vice president of First American Outsourcing and Technology Solutions. “His experience and insights will help our servicing clients develop workable solutions to keep struggling homeowners in their homes and to accommodate the unprecedented demand for loan modifications that the industry is facing."
“Servicers are facing massive and complex challenges in the areas of loss mitigation, loan modification and foreclosure prevention,” said Miller. “At the same time, they are under enormous pressure from regulators, state governments, investors, bankruptcy courts and advocacy groups. As a long-time client of First American, I know first-hand that the company is committed to the servicing market and has the resources, technology and scale to help the servicing sector respond to these challenges.”
About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With revenues of approximately $8.2 billion in 2007, 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.