Home Prices Depreciate in 21 States over the Past Year, But Patterns Vary Significantly at Local Level

SAN FRANCISCO, Dec. 19, 2007–First American LoanPerformance, a member of The First American Corporation (NYSE:FAF) family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its October 2007 LoanPerformance Home Price Index (HPI).

The LoanPerformance HPI provides a comprehensive set of monthly home price indices and median sales prices covering 7,451 ZIP codes, 956 Core Based Statistical Areas (CBSA) and 662 counties in all 50 states and the District of Columbia. The index, which is the most comprehensive available in the industry, is reported as early as five weeks after each month ends.

Source: First American LoanPerformance HPI, 12-month change by state; single family detached series.

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“The real estate market continues to exhibit ongoing declines in a number of key residential property markets. This latest LoanPerformance HPI release reveals that 21 states now show a negative home price appreciation over the past 12 months,” said Damien Weldon, vice president, collateral and prepayment analytics for First American LoanPerformance. “The overall picture continues to be mixed however. Some states such as New York and Vermont for example actually show an increase in year-over-year home price appreciation compared to last month’s LoanPerformance HPI release,” added Weldon.

Source: First American LoanPerformance HPI, Single Family Detached Series

“LoanPerformance’s HPI pinpoints underlying real estate trends at ZIP code-level in all major markets. For example, 2,975 (40 percent) of the 7,451 ZIP codes we track show a stable or increasing year-over-year home price appreciation. ZIP code-level analysis often paints a more complex real estate picture than many of these CBSA trends suggest,” added Weldon.

Published by the third week of each month, the LoanPerformance HPI incorporates more than 30 years of repeat sales transactions, representing more than 45 million observations, sourced from the industry’s leading property information database owned by its parent company, First American CoreLogic, Inc.

LoanPerformance HPI provides 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. In addition, all LoanPerformance HPI indices are available monthly for download via file transfer protocol (FTP).

Sample reports and complimentary state and top-30 CBSA-level HPI information can be found at http://www.loanperformance.com/products/hpi.aspx.

About First American LoanPerformance
First American LoanPerformance is a subsidiary of First American CoreLogic, Inc., and a member of The First American Corporation (NYSE: FAF) family of companies. First American LoanPerformance databases track the delinquency and prepayment performance of 50 million active individual mortgage payments per month and provide loan-level information on more than $2.2 trillion in nonagency mortgage-backed 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.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 $8.5 billion in 2006, 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, Mortgage Information, Property Information and First Advantage. 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