First American Financial Corporation (NYSE: FAF), a leading global provider of title insurance, settlement services and risk solutions for real estate transactions, today announced the rebrand of its data division as the First American Data & Analytics Division, which has brought together advanced analytic solutions for title automation, fraud risk management, compliance and valuation, powered by the industry’s largest and most complete property information and ownership data. The division remains at the forefront of innovation, leveraging technology and data to deliver best-in-class decisioning solutions to the real estate, mortgage, title and PropTech industries.
“The new brand reflects the significant investments we’ve made to further solidify our industry leadership in data and technology, providing an expanded offering of solutions under the trusted First American brand,” said Dennis J. Gilmore, chief executive officer at First American Financial Corporation. “Combining our unmatched data assets and solution suite with the most experienced team of experts, the division is uniquely suited to support the needs of established, industry-leading companies and innovative PropTech businesses, as the real estate industry further embraces digital transformation.”
State-of-the-Art Tech and Proprietary Process Fueled by Industry-Leading Data
First American Data & Analytics’ solutions have been awarded over 20 patents for title automation, loan risk assessment, online platforms, optical character recognition and data extraction. Using proprietary document data extraction technology, First American collects, extracts and curates the industry’s most robust and highest quality property-related data, such as mortgages, deeds, assignments, liens, etc. Unlike most real estate data providers, First American’s proprietary process captures all recorded document elements, providing comprehensive data intelligence traditional providers do not. The division currently maintains the largest geographic collection of title plants, representing a dataset of more than 7 billion recorded documents, and adds more than 5 million new document images and more than 20 billion data elements each month to the dataset. Clients utilize First American solutions through a variety of intuitive and flexible platforms, APIs and integrations with technology providers.
“Our mission is to provide our customers with the most flexible access to unique real estate information through our innovative solutions and award-winning service,” said Robert Karraa, president of First American Data & Analytics.
Powering Innovation with Lenders, Title Companies and PropTech Leaders
Used in over half of the mortgage origination transactions in the U.S, First American Data & Analytics’ solutions enable lenders and title companies to make better, and increasingly automated, decisions to manage their workflow and their auditing and compliance operations. The First American title search and examination automation suite dramatically improves title decisioning processes for title companies nationwide. In addition, a growing number of progressive PropTech clients are leveraging the division’s data assets to drive the development of new business models designed to transform the real estate and property landscape.
About First American Data & Analytics
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 7 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData™, TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; banking, trust and wealth management services; and other related products and services. With total revenue of $6.2 billion in 2019, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2020, First American was named to the Fortune 100 Best Companies to Work For® list for the fifth consecutive year. More information about the company can be found at www.firstam.com.