New First American CoreLogic Study Quantifies Consumer Benefit of Economic Stimulus...

New First American CoreLogic Study Quantifies Consumer Benefit of Economic
Stimulus Tied to Mortgage Rates
- An Estimated $11.5 Billion in Mortgage Payment Savings Will Accrue to U.S.
Borrowers Over the Next Five Years -

SANTA ANA, Calif., Sept. 15 /PRNewswire-FirstCall/ -- First American
CoreLogic, a member of The First American Corporation (NYSE: FAF) family of
companies and America's largest provider of advanced property and ownership
information, analytics and services, today released a new study that measures
the consumer impact of recent government actions to reduce mortgage rates. The
study can be downloaded at www.facorelogic.com.

Entitled "How the U.S. Consumer Has Benefitted from Mortgage Finance Programs
in 2009," the study by Mark Fleming, Ph.D. and chief economist for First
American CoreLogic, examines the effect of the Federal Reserve's interest rate
reductions and government refinance programs on refinance activity and the
results in increased consumer disposable income. Using data from the First
American CoreLogic public-record database, which covers 96 percent of the U.S.
population, the study analyzes more than 2.2 million residential mortgage
refinances that occurred between October 2008 and June 2009. With the use of
public-records data on sale and mortgage transaction activity, the First
American CoreLogic study estimates the degree of debt burden reduction and the
magnitude of dollars saved as a result of refinancing. The study projects
that this refinance activity will result in $2.3 billion of mortgage payment
savings for borrowers who refinanced in the first six months of 2009.
According to the study, the median individual monthly savings was $120, a 10.5
percent reduction from the median borrower's previous mortgage payment. Over
the next five years, the total benefit to homeowners who refinanced in 2009
will grow to $11.5 billion.

"The quantitative easing policies of the Federal Reserve and refinance
activity made possible by the Home Affordable Refinance Program (HARP) have
allowed more than 2 million consumers to reduce their monthly mortgage debt
obligations and put more money in their pockets," said Fleming. "This
permanent increase in monthly income is likely to, in part, be used to
increase consumption and help to drive growth as the economy rebounds.
Additionally, these refinanced loans are likely to be more sustainably
affordable debt obligations. The combination of lower payments and fixed-rate
terms should also reduce the risk of future foreclosure."

About First American CoreLogic
First American CoreLogic, a member of The First American Corporation
(NYSE:FAF) family of companies, is the largest provider in the U.S. of real
estate, property, ownership, fraud, mortgage, and mortgage securities data -
and the advanced analytics that use them - for the assessment of real estate
sales, collateral valuation, home price trends, mortgage originations,
mortgage- and asset-based securities pricing, foreclosures, delinquencies, and
asset dispositions. Our market-specific data covers 98 percent of all U.S. ZIP
codes and 3,059 counties in all 50 states and the District of Columbia,
representing 99 percent of the U.S. population, 97 percent of all properties
(140 million), more than 50 million active mortgages and 96 percent of
loan-level, non-agency mortgage securities. First American CoreLogic's
products and services enable customers to manage credit and mortgage risk,
protect against fraud, acquire and retain customers, mitigate loss, decrease
mortgage-transaction cycle times, value properties accurately, determine real
estate trends, and project future market performance. For more information
about First American CoreLogic, please visit www.facorelogic.com.

About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500((R)) company that
traces its history to 1889. With revenues of approximately $6.2 billion in
2008, 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

SOURCE The First American Corporation

Media, Carrie Gaska, Corporate Communications of The First American
Corporation, +1-714-250-3298, cgaska@firstam.com; or Investors, Mark Seaton,
Investor Relations of The First American Corporation, +1-714-250-4264,
mseaton@firstam.com