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SAN FRANCISCO, CA - July 26, 2005 - LoanPerformance, a subsidiary of First American Real Estate Solutions (RES®) and a leader in residential mortgage data and analytics, today announced that its mortgage securities database now contains loan-level information on more than $1 trillion worth of active securitized mortgages.
LoanPerformance’s mortgage securities database is the mortgage industry’s largest repository of non-agency mortgage-backed securities (MBS) and asset-backed securities (ABS) data. Mortgage originators, servicers, securities issuers and investors rely on this critical performance information to monitor and analyze credit risk and make securities valuation and pricing decisions. The industry-wide cooperative database tracks more than 100 million loans contributed by the leading mortgage servicers, securitizers and portfolio lenders in the United States. Combining this data with First American’s real property information uniquely positions LoanPerformance to create increasingly valuable mortgage credit and prepayment analytics for all segments of the mortgage industry.
“The MBS and ABS markets have experienced unprecedented growth in the past two years,” said Dan Feshbach, chief executive officer and president at LoanPerformance. “This milestone reflects not only the ongoing cooperation of our clients, but also the willingness of the non-agency securities market participants to provide the data which, in turn, works to attract new investors and helps increase market activity and liquidity.”
LoanPerformance maintains separate MBS and ABS databases, which feature loan-level data on approximately 85 percent of all non-agency mortgage securities. In addition to its unmatched size, the LoanPerformance securities databases provide a 14-year historical perspective on the non-agency securities market. This unique, extended view enables long-term projections that consider historical market fluctuations, thus enhancing the reliability of research and modeling tools developed by the database’s users.
LoanPerformance is a subsidiary of First American Real Estate Solutions and a member of The First American Corporation (NYSE: FAF) family of companies. LoanPerformance’s databases track the delinquency and prepayment performance of 46 million active individual mortgage payments per month and provide loan-level information on more than $1 trillion in non-agency mortgage and asset-backed securities. The company’s data and suite of predictive prepayment and risk modeling solutions enable mortgage originators, servicers, securities issuers and investors to make informed business decisions about credit risk, loss mitigation, customer retention, securitization and investment. For additional information, visit www.loanperformance.com and www.firstamres.com.
The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889, is the nation’s largest data provider. 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 six primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.72 billion in 2004, First American has 31,000 employees in approximately 2,000 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.
Media contacts:
Carrie Gaska
714-701-3265
cgaska@firstam.com
John Lewis
202-261-6548
john@campbelllewis.com
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