First American Financial Corporation, through its subsidiaries, engages in the business of providing financial services. Segments The company operates through two segments, Title Insurance and Services; and Specialty Insurance. Title Insurance and Services This segment issues title insurance policies on residential and commercial property in the United States and offers similar or related products and services internationally. This segment also provides closing and/or escrow services; accommodates tax-deferred exchanges of real estate; provides products, services and solutions involving the use of real property related data designed to mitigate risk or otherwise facilitate real estate transactions; maintains, manages and provides access to title plant records and images; and provides banking, trust and investment advisory services. The company conducts its title insurance and closing business through a network of direct operations and agents. Through this network, the company issues policies in the 49 states that permit the issuance of title insurance policies and the District of Columbia. The company also offers title insurance, closing services and similar or related products and services, either directly or through third parties in other countries, including Canada, the United Kingdom, Australia and various other established and emerging markets. Customers, Sales and Marketing: The mortgage markets in the United States and Canada are concentrated. Five institutions, Wells Fargo & Company, JPMorgan Chase & Co., U.S. Bancorp, Quicken Loans Inc., and Bank of America Corporation, purchases title insurance policies and other products and services from the company. The company distributes its title insurance policies and related products and services through its direct and agent channels. In its direct channel, the distribution of the company’s policies and related products and services occurs through sales representatives located at various offices throughout the United States where real estate transactions are handled. Title insurance policies issued and other products and services delivered through this channel are primarily delivered in connection with sales and refinances of residential and commercial real property. For residential business referred by local or decentralized customers, the company markets to real estate agents and brokers, mortgage brokers, real estate attorneys, mortgage originators, homebuilders and escrow service providers. For refinance and default related business referred by customers with centrally managed platforms, it markets to mortgage originators, servicers, and governmental sponsored enterprises. For the commercial business the company markets primarily to commercial real estate investors, including real estate investment trusts, insurance companies and asset managers, as well as to law firms, commercial banks, investment banks, mortgage brokers and the owners of commercial real estate. The company also markets directly to national homebuilders focused on newly constructed residential property. The company also provides educational information on its Website and through other means to help consumers understand its services and the homebuying/settlement process in general. The company also issues title insurance policies through a network of agents. International Operations: The company provides products and services in various countries outside of the United State. It has direct operations and a physical presence in various countries, including Canada, the United Kingdom and Australia. Trust and Investment Advisory Services: The company’s federal savings bank subsidiary offers trust and investment advisory services, deposit services and asset management services. Competition: The company’s major nationwide competitors in its principal markets include Fidelity National Financial, Inc.; Stewart Title Guaranty Company; and Old Republic International Corporation. Specialty Insurance This segment provides title insurance, closing and/or escrow services and similar or related services domestically and internationally in connection with residential and commer
first american financial (FAF:New York)
1 First American Way
Santa Ana, CA 92707
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