Press Release
July 8, 2008
First American Business Unit Selects Response Analytics to Support
Forward Looking Business Strategy
Mortgage Innovator Responds to Market Opportunity by Adopting Optimization Technology
SCOTTSDALE, Ariz. – July 8, 2008 – Response Analytics Inc., a leading Financial Services Optimization (FSO) company, announced today that First American Subordinate Lien Outsourcing (FASLO), a business unit within the Default Information Services Division of First American, Inc. has selected its distressed portfolio management (DPM) solution to support its forward looking technology strategy. The selection of Response Analytics (RAI) is consistent with First American and FASLO’s long reputation as an innovator in using advanced technologies to deliver productivity and profitability.
An industry first, RAI’s DPM solution combines software and services and uses optimization-based technology to provide continuous portfolio valuations and optimal recovery rate recommendations matched to appropriate collection channels. By “adaptively” learning and therefore predicting how borrowers and portfolios will react to changing market and economic conditions, mortgage organizations can increase accuracy for valuations and cash flow forecasts as well as optimize workout recommendations, in order to rapidly adapt business strategy to the current business climate. The solution has value for mortgage originators, servicers, investors and bond insurers.
About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With revenues of approximately $8.5 billion in 2006, 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, Mortgage Information, Property Information and First Advantage. More information about the company and an archive of its press releases can be found at www.firstam.com.
About Response Analytics
Response Analytics, Inc. is a leading Financial Services Optimization (FSO) company that solves mission critical issues and evolving business challenges, using best-in-class modeling and optimization technology. Response Analytics’ software is helping solve what is perhaps the financial industry’s most urgent challenge in a generation – providing a win-win solution for investors, servicers and borrowers alike, relative to distressed mortgage and other portfolios, which optimizes borrower workout strategies and cash flows. The solution, based on a comprehensive platform using application modules, addresses a variety of other issues across Retail Banking, Mortgage Banking, Commercial Banking, Consumer Lending and Automotive Finance, including the correct pricing of financial instruments based on optimized scenarios. Unlike other applications or approaches, Response Analytics is the only company to offer an optimization-based solution for financial services which forecasts and optimizes business results in a way that is useful for analysts and executives alike
For more information call 480.429.4480, Ext. 118, email Info@ResponseAnalytics.com or visit us on the web at www.responseanalytics.com.
