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First American RES - CoreLogic Merger |
  Press Releases  
For all trade media inquires, please contact:Bill Campbell(212) 995-8057  send email
For all other media inquires, please contact:Analisa Schelle(415) 677-2721 send email |
First American Real Estate Solutions Merges With CoreLogic Systems, INC. —New, Combined Company to Deliver Comprehensive Line of Risk Management Analytics to the Mortgage Industry— SANTA ANA, Calif., Feb. 5, 2007 – The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced that it has merged its First American Real Estate Solutions ("RES") division, a part of its FARES LLC subsidiary, with Sacramento, Calif.-based CoreLogic Systems, Inc., a leading provider of mortgage risk assessment and fraud prevention solutions. The new, combined company is majority owned by The First American Corporation through its FARES LLC joint venture with Experian Group Limited. CoreLogic’s stockholders, comprised of its management team and TA Associates, hold an 18 percent economic interest and two of 10 board of director seats. The co-founders of CoreLogic, Steve Schroeder and Kraig Clark, have assumed key roles in the newly formed organization. The merger is the largest transaction in a series of analytic company acquisitions and minority investments completed by RES in recent years as a part of a larger domestic and international mortgage risk analytics strategy...
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