First American LoanPerformance Mortgage Securities Database Surpasses $1.5 Trillion Milestone
Growth of Data Repository Fuels Valuable Analytics Used by Mortgage Institutions and Wall Street Firms to Monitor and Analyze Credit Risk
SAN FRANCISCO – Nov. 14, 2006 – First American LoanPerformance, a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced that its mortgage securities database now contains loan-level information on more than $1.5 trillion worth of active securitized mortgages.
First American 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. It covers approximately 85 percent of outstanding loans with history dating back to 1992 for non-agency MBS, and back to 1997 for ABS (nonprime and Alt-A). The securities data features detailed loan-level information on the underlying collateral of more than 8,500 active loan pools from more than 130 issuers.
First American LoanPerformance securities data is used by asset and hedge fund managers, brokers, dealers, regulators, mortgage insurers, rating agencies, issuers, risk managers and loan servicers who rely on this critical performance information to monitor and analyze credit risk and make securities valuation and pricing decisions. In addition to its unmatched size, the First American 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.
To learn more about the LoanPerformance securities databases, please call the First American LoanPerformance representative in your area: New York to Washington, D.C., Corridor: Connie Keim at (973) 226-0084; Southeast: Debra Donan at (908) 304-0263; Midwest and New England: Charles DiMascio at (909) 593-0141; West: Jim Kinnebrew at (415) 536-3523; National Servicing Solution Sales: Brian Gunn at (415) 536-3537.
About LoanPerformance
First American 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 50 million active individual mortgage payments per month and provide loan-level information on more than $1.5 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.
About First American
The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889, 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 Risk Mitigation and Business Solutions. With revenues of $8.1 billion in 2005, First American has approximately 2,100 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.
Contact:
David Schulz
Corporate Communications
The First American Corporation
(714) 250-3298
dschulz@firstam.com
