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SANTA ANA, Calif., Oct 15, 2009 – 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 the availability of its new Bond Analytics Solution representing the most robust bond pricing and analytics platform available for non-agency mortgage-backed securities.
The Bond Analytics Solution is designed to deliver improved valuation and surveillance of residential mortgage-backed securities (RMBS) through a more accurate prediction of loan-level behavior that, in turn, drives more precise bond-level cashflows. The Bond Analytics Solution generates bond-pricing reports, which include principal loss projections, credit enhancement loss coverage ratios, implied ratings, as well as bond prices driven by user-defined or market-based spreads. In addition, the solution provides a single view of securities data, borrower data and real estate data by leveraging current open lien information and automated valuation models (AVMs), which provide updated and dynamic current loan-to-value (CLTV) on the underlying collateral. The solution uses First American CoreLogic’s TrueLTV™ and the LoanPerformance Home Price Index (HPI) and HPI Forecasts providing ZIP code-level historical and projected real estate trends across all local market segments.
The new bond valuation solution has wide-ranging applications. Hedge funds, private equity investors and asset managers can use the new solution for distressed security evaluation, bid list filtering, private transaction assessment and mutual fund pricing. Bank portfolio managers, corporate treasurers, insurance investment managers and government regulators can use the solution for enhanced asset evaluation and surveillance, mark-to-model analysis, loss provisioning and stress test evaluation.
First American CoreLogic Bond Analytics Solution is based on industry-leading loan-level securities data from the LoanPerformance database. Rigorous predictive analytics are applied using the LoanPerformance RiskModel™. Loan-level projections are translated to bond-level cashflows and prices via seamless mapping to Intex deal models to price and analyze RMBS securities and portfolios. The First American CoreLogic’s Bond Analytics Solution is built on a flexible, open and scalable technology platform and also supports third-party credit and prepayment models and HPI’s. The platform can be delivered to clients either via on-site implementation, a hosted Web application or a bond pricing service that provides bond-pricing reports on a batch basis.
“Our bond valuation solutions represent the most complete and reliable bond pricing and analytics solution available in the market today,” said George Livermore, chief executive officer for First American CoreLogic. “LoanPerformance loan-level data and analytics and Intex deal libraries are clear industry leaders in coverage and quality. Seamless integration of these best-in-class components leads to superior bond pricing.”
On October 21 at 11 a.m. (EST), First American CoreLogic will present an overview of the Bond Valuation Solution for interested clients and prospects. To view the agenda, speakers and register, please visit www.loanperformance.com/bondwebinar. For more information regarding the Bond Valuation Solution, please contact Jim Reynolds at 415-536-3522 or jreynolds@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.
Media Contact:
Carrie Gaska
Corporate Communications
The First American Corporation
(714) 250-3298
cgaska@firstam.com
Investor Contact:
Mark Seaton
Investor Relations
The First American Corporation
(714) 250-4264
mseaton@firstam.com
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