Latest Issue of LoanPerformance MarketPulse™ Now Available
Quarterly Report on Mortgage Trends Highlights Lehman Brothers Interest-only Study, National Delinquency and Prepayment Trends
San Francisco, CA - May 24, 2005 - LoanPerformance, a division of First American Real Estate Solutions and a member of The First American Corporation (NYSE: FAF) family of companies, and a leading data, research and analytics provider for the mortgage industry and Wall Street, today announced that the latest issue of its MarketPulse report is available for download at www.loanperformance.com.
This latest report features a study by the global investment bank Lehman Brothers, titled “Subprime Interest Only Mortgages: Characteristics, Mechanics, and Performance” by Dick Kazarian and Namit Sinha. The report sheds light on the recent explosive demand for interest-only (IO) mortgages, the new rating agencies’ requirements for additional credit enhancement and investor concerns about the risk associated with IO credit and prepayment performance vs. level payment loans. In addition, MarketPulse explores recent trends for mortgage delinquencies and prepayments.
MarketPulse is a free quarterly report that presents analysis and insight into delinquency and prepayment trends for the prime, subprime, home equity and second liens, and mortgage and asset-backed securities markets. Each issue also contains a “RiskView” section with valuable insights from leading thinkers on the prime, subprime and securities mortgage marketplace. The summary data in each issue of MarketPulse is extracted from the LoanPerformance mortgage servicing and securities databases of 46 million active mortgage loans. Mortgage industry professionals interested in receiving MarketPulse can sign up by filling out the electronic form in the MarketPulse section of the LoanPerformance Website at www.loanperformance.com.
About LoanPerformance
LoanPerformance, a division of First American Real Estate Solutions and a member of The First American Corporation family of companies, is a leader in residential mortgage performance data and provides credit risk decision support tools for mortgage originators, servicers, securities issuers and investors. LoanPerformance’s industry-standard mortgage servicing and securities databases track the delinquency and prepayment performance of 46 million active individual mortgage payments per month and provide loan-level information on more than $950 billion in non-agency mortgage and asset-backed securities. LoanPerformance’s proprietary databases and suite of predictive prepayment and risk modeling solutions enable clients to make informed business decisions about credit risk, loss mitigation, customer retention, securitization and investment. More information about LoanPerformance can be found at www.loanperformance.com.
First American Real Estate Solutions (RES), a member of The First American Corporation family of companies, is the nation’s largest provider of advanced property and ownership information, analytics and services. First American RES’ database covers more than 2,400 counties representing 97 percent of the nation’s real estate transactions. With more than 600,000 users nationwide, First American RES products are used by companies to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost efficiency, measure the value of residential and commercial properties, identify real estate trends and neighborhood characteristics, track market performance, and increase market share. More information about First American RES can be found on the Internet at www.firstamres.com.
The First American Corporation (NYSE: FAF) is a Fortune 500 company that traces its history to 1889. As the nation’s largest data provider, the company supplies businesses and consumers with information resources in connection with the major economic events of people’s lives, such as getting a job; renting an apartment; buying a car, house, boat or airplane; securing a mortgage; opening or buying a business; and planning for retirement. 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 contact
John Lewis
Campbell Lewis Communications
(202) 261-6548
john@campbelllewis.com
