National Depreciation Rate Remains Steady for Eighth Consecutive Month

SANTA ANA, Calif., Dec. 1, 2008–First American CoreLogic, a member of The First American Corporation (NYSE:FAF), America’s largest provider of advance property and ownership information, analytics and services, today announced the release of its full month September 2008 LoanPerformance Home Price Index (HPI).

The LoanPerformance HPI provides the most comprehensive set of monthly home price indices and median sales prices covering 7,620 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 676 counties located in all 50 states and the District of Columbia. The indices, which are the most comprehensive available in the industry, are reported to clients five weeks after each full month ends.

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“In September, nominal home prices declined 11.2 percent from a year ago and our October early preview data indicates a decline of 10.5 percent. Home prices have maintained an annualized depreciation rate of between 10 and 11 percent for eight months in a row.” said Mark Fleming, chief economist for First American CoreLogic. “Our early estimates of October sales transaction volume has declined substantially, which is not a surprise given recently released economic data and events in the credit and financial markets.” added Fleming.

Source: First American CoreLogic, LoanPerformance HPI, Single-Family Detached Series as of September 2008

“Thirty-four states experienced annual price declines as of September, but the geographic breadth of the declines seems to have stabilized as the number of states with year-over-year declines has been constant for six consecutive months. California remains the clear leader as prices have declined 29.9 percent annually followed by Nevada (25 percent), Arizona (21.1 percent), Florida (17.5 percent), Hawaii (14.3 percent), and Rhode Island (13.3 percent). West Virginia (5 percent) and Texas (2.1 percent) continue to exhibit the leading price increases, but even those increases have been generally decelerating the last few months.” added Fleming.

In addition, updated LoanPerformance HPI data through mid-October 2008 is currently available, providing clients with an early snapshot of trends with only a three-week lag period. Full-month September through mid-month October 2008 state and top CBSA-level data can be found at http://www.loanperformance.com/products/hpi.aspx.

The LoanPerformance HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 45 million observations sourced from First American CoreLogic’s industry-leading property information database. LoanPerformance HPI provides a multi-tier market evaluation based on price, time between sales, property type and loan type (conforming vs. nonconforming). With LoanPerformance HPI, users can monitor real estate trends by market, identify at-risk markets as they unfold, selectively evaluate markets by tier and fine tune investment strategies. LoanPerformance HPI is delivered through the TrueStandings® Web-based business intelligence platform, which provides instant access to real estate price trends in all of the key local markets in the United States. Data can be sorted by time period, state, county, CBSA and ZIP code.

About First American CoreLogic
First American CoreLogic, a member of The First American Corporation (NYSE:FAF) family of companies, is the largest provider of real estate, property and ownership data and advanced analytics for information on foreclosures, delinquencies, median home prices, home price indices, home valuations, sales activity and mortgage loan originations. The market-specific data covers 7,620 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 3,050 counties located in all 50 states and the District of Columbia. This data represents 99 percent of the United States population, 140 million (97 percent) of all properties, more than 50 million active mortgages and $2 trillion in loan-level, non-agency mortgage securities. First American CoreLogic’s products and services enable customers to better manage mortgage risk, protect against fraud, acquire and retain customers, manage credit risk, mitigate loss, decrease mortgage transaction cycle time, more accurately value properties and determine real estate trends and market performance. More information about First American CoreLogic can be found at www.facorelogic.com.

About The First American Corporation
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.

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