First American Real Estate Solutions and BasePoint Analytics Announce Strategic Partnership

Alliance Provides Mortgage Lenders with Customizable Portfolio of Fraud Solutions and Services

Date: 06/27/2005

ANAHEIM, Calif., June 27, 2005 – First American Real Estate Solutions (RES®),  the nation’s largest provider of advanced property and ownership information, solutions and services; and BasePoint Analytics, a provider of custom analytics and fraud consulting, today announced a strategic partnership aimed at helping mortgage lenders measure fraud losses and minimize fraud exposure by deploying advanced analytics and by optimizing the loan review processes within the lender’s existing production environment.  As part of this strategic partnership, and to demonstrate its commitment to the success of the alliance, First American has purchased a minority interest in BasePoint Analytics.

“The BasePoint Analytics partnership complements our line of mortgage solutions by providing full-service fraud diagnostics and custom analytic services,” said George Livermore, president of First American Real Estate Solutions. “Through this partnership, our clients can quickly establish a baseline on their level of fraud exposure and rapidly implement a balanced approach to minimizing fraud losses while maximizing loan production and approval rates.”

In today’s environment, mortgage lenders use multiple tools, processes and strategies to prevent fraud. These efforts require ongoing assessment to ensure optimization of each component. BasePoint Analytics helps lenders streamline this process and further reduce fraud losses by deploying methodologies that have successfully reduced fraud losses in the credit card and retail banking industries. 

“Mortgage lenders are looking for two fundamental solutions: measuring the scope of their current exposure and minimizing that exposure without impacting existing systems and processes,” said Stephen Platt, chief executive officer of BasePoint Analytics. “Our experts work directly with lenders to review their historic loan performance and provide a full benchmark of their fraud performance. We then help them drive down those losses to industry best-in-class levels by designing and implementing customized solutions that are uniquely tailored to the lender’s business and technology environment.”

Parties interested in learning more about mortgage fraud benchmarking and mortgage fraud reduction may contact BasePoint Analytics by calling (760) 602-4971 or by sending an email to info@basepointanalytics.com. 

BasePoint Analytics, based in Carlsbad, Calif., is a custom fraud analytics and consulting company serving the financial services market. BasePoint Analytics integrates advanced analytics, proven fraud strategies and best-practice consulting services for measurable results in fraud mitigation and optimized fraud operations. With some of the top fraud scientists in the field, BasePoint Analytics builds state-of-the-art predictive models using advanced techniques such as neural networks and machine learning algorithms and integrates them into products that work to ensure that the right loan review processes, lending policies and management reporting systems are in place to achieve substantial and continuous fraud reduction. More information on BasePoint Analytics can be found at www.basepointanalytics.com.

First American RES, a member of The First American Corporation family of companies, is the nation’s largest provider of advanced analytics, property and ownership information and services. First American RES’ database covers more than 2,400 counties representing 97 percent of the nation’s real estate transactions. With more than 600,000 users nationwide, First American RES products are used by companies to improve customer acquisition and retention, detect and prevent fraud, improve mortgage transaction cycle time and cost efficiency, measure the value of residential and commercial properties, identify real estate trends and neighborhood characteristics, track market performance and increase market share. More information about First American RES can be found on the Internet at www.firstamres.com.

The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889, is the nation’s largest data provider. 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 six primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.72 billion in 2004, First American has 31,000 employees in approximately 2,000 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.