Universal Settlements Announces Launch of Strategic Markets Division in Washington,...

Universal Settlements Announces Launch of Strategic Markets Division in
Washington, D.C. Metropolitan Area
- Multicultural Homebuyers in Rapidly Growing D.C. Communities to Benefit from
New Specialized Products and Services -

WASHINGTON, April 24 /PRNewswire/ -- Universal Settlements, a subsidiary
of First American Title Insurance Company and a member of The First American
Corporation (NYSE: FAF) family of companies, today announced the launch of its
Strategic Markets Division in the Washington, D.C. metropolitan area. First
American Title's Strategic Markets Division provides culturally insightful
business solutions for real estate practitioners to more effectively serve the
region's rapidly growing multicultural and new immigrant home-buying
communities.
"Universal Settlements is already recognized as one of the leading real
estate settlement companies in the Mid-Atlantic region," said Vivian Vasallo,
vice president of First American Title's eastern region Strategic Markets
Division. "With their combined depth of experience, commitment to service and
a culturally diverse staff to provide clients with flexibility and convenience
they can rely on, Universal Settlements' addition of a Strategic Markets
Division will foster the growth of homeownership and underscore the company's
unique ability to service the needs of this region."
Because Universal Settlements understands the need to offer customized
solutions to the Mid-Atlantic region's expanding multicultural community, this
new Strategic Markets Division will provide numerous specialized services,
including attorneys with multicultural backgrounds to answer consumers'
questions and in-language mobile services at closings. "Multicultural
homebuyers can find the closing experience uncomfortable due to language
barriers and unfamiliarity with the whole process," said Marty Stanton,
counsel for Universal Settlements. "Our in-language mobile services provide
experienced settlement officers who can accommodate particular language needs
and alleviate anxiety by walking customers carefully through the closing
process in the convenience of their home. This is a tremendous opportunity to
help strengthen our communities and to establish Universal Settlements as the
company of choice among multicultural homebuyers and the real estate
professionals who serve them."
While recent U.S. Census Bureau reports indicate that national
multicultural homeownership rates have lagged 12 percent to 28 percent behind
the rate of 75.3 percent held by whites, the Washington, D.C. metro area is
home to several of the largest multicultural markets in the country.
Diversity of immigrant flow makes this area especially unique, with more than
193 countries represented, according to the Immigration and Naturalization
Service. For example, the area had the ninth largest Latino population gain
in the U.S. between the years 2000 and 2005.
A number of innovative business solutions made available for industry
professionals include multilingual, consumer-oriented materials that will
assist in the homeownership purchase process for multicultural homebuyers.
Universal Settlements will offer information in several languages, including
Spanish, Korean, Chinese and Vietnamese.
The company's new Strategic Markets Division will be applying the same
well-received products and services that First American Title has successfully
launched in several regions throughout the U.S. The division helps breakdown
the cultural and financial education barriers that often arise when members of
ethnic communities enter the home-buying process. In addition, the Strategic
Markets Division's products and services include consumer-focused outreach,
educational events regarding the title and escrow process for the real estate
professionals who assist program participants, and the training of key
Universal Settlements staff to better service ethnically diverse communities.
Enthusiastic endorsement of First American's unique and uncompromisingly
service-oriented programs has come from organizations such as the Greenlining
Institute, a multiethnic coalition that promotes homeownership and inner-city
economic development; and Operation HOPE, Inc., a social investment bank and a
national provider of financial literacy and economic empowerment programs.
About Universal Settlements
Universal Settlements is a subsidiary of First American Title Insurance
Company, one of the largest title insurers in the nation. As part of the
First American Family of Companies, Universal Settlements is a full-service
title and settlement services company serving real estate and mortgage
professionals in the support of residential and commercial real estate
transactions. Universal Settlements has offices in Washington, D.C., Maryland
and Virginia. For more information, visit http://www.universalsettlements.net
and for inquiries contact Vivian Vasallo at 202-223-7900.
About First American Title Insurance Company
First American Title Insurance Company, the largest subsidiary of The
First American Corporation (NYSE: FAF), traces its history to 1889. One of the
largest title insurers in the nation, the company offers title services
through its direct operation and an extensive network of agents throughout the
United States and abroad. The company has its headquarters in Santa Ana,
Calif. Information about The First American Corporation's subsidiaries and an
archive of its press releases can be found on the Internet at
http://www.firstam.com.
Media Contact:
Victoria Sanchez De Alba
De Alba Communications
(650) 270-7810 - victoria@dealba.net

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, Victoria Sanchez De Alba of De Alba Communications, +1-650-270-7810,
victoria@dealba.net, for The First American Corporation; or Carrie Gaska,
Corporate Communications, +1-714-250-3298, cgaska@firstam.com, or Investors,
Mark Seaton, Investor Relations, +1-714-250-4264, mseaton@firstam.com, both of
The First American Corporation