First American CoreLogic Releases March 2008 LoanPerformance House Price Index

- Forty Two States Show Decline in Past Three Months -

SANTA ANA, Calif., June 2 /PRNewswire-FirstCall/ -- First American
CoreLogic, a member of The First American Corporation (NYSE: FAF) family of
companies and a leader in residential mortgage data and analytics for the
mortgage industry and Wall Street, today announced the release of its March
2008 LoanPerformance Home Price Index (HPI).

The LoanPerformance HPI provides a comprehensive set of monthly home
price indices and median sales prices covering 7,523 ZIP codes, 957 Core
Based Statistical Areas (CBSA) and 670 counties located in all 50 states
and the District of Columbia. The indices, which are the most comprehensive
available in the industry, are reported to clients five weeks after each
full month ends. (For state-by-state maps, visit
http://www.loanperformance.com/assets/images/pr0508_3mo_lg.jpg (3-month
map) and http://www.loanperformance.com/assets/images/pr0508_12mo_lg.jpg
(12-month map).)

"Two thirds of all states now show year-over-year real estate declines
according to this latest LoanPerformance HPI release," said Mark Fleming,
chief economist for First American CoreLogic. "Although only one-third of
CBSAs are depreciating on a nominal basis, on an inflation adjusted basis
90 percent of CBSAs are experiencing real price declines. Only 10 percent
of CBSAs are experiencing real inflation-adjusted price increases," added
Fleming.





3-Month and 12-Month Change by Top CBSAs 3-Month 12-Month
(Core Based Statistical Areas) as of February 2008 Change Change

Los Angeles-Long Beach-Glendale CA -7.41 % -21.19 %
Cleveland-Elyria-Mentor OH -7.38 % -11.77 %
Oakland-Fremont-Hayward CA -7.33 % -19.87 %
Cape Coral-Fort Myers FL -7.26 % -20.70 %
Riverside-San Bernardino-Ontario CA -7.09 % -22.74 %
Tampa-St. Petersburg-Clearwater FL -6.90 % -16.46 %
San Diego-Carlsbad-San Marcos CA -6.82 % -19.02 %
Miami-Miami Beach-Kendall FL -6.77 % -16.52 %
St. Louis MO-IL -6.69 % -6.62 %
Fort Lauderdale-Pompano Beach-Deerfield Beach FL -6.01 % -18.39 %
Honolulu HI -5.48 % 6.38 %
Phoenix-Mesa-Scottsdale AZ -5.43 % -17.74 %
Las Vegas-Paradise NV -5.11 % -17.86 %
Boston-Quincy MA -4.99 % -10.35 %
Detroit-Livonia-Dearborn MI -4.82 % -5.30 %
Orlando-Kissimmee FL -4.69 % -16.18 %
San Francisco-San Mateo-Redwood City CA -4.47 % -12.86 %
Denver-Aurora CO -3.86 % -8.74 %
Washington-Arlington-Alexandria DC-VA-MD-WV -3.66 % -12.65 %
Chicago-Naperville-Joliet IL -3.53 % -7.55 %
Atlanta-Sandy Springs-Marietta GA -3.46 % -7.58 %
Charlotte-Gastonia-Concord NC-SC -3.20 % -1.35 %
Minneapolis-St. Paul-Bloomington MN-WI -2.48 % -8.87 %
Edison NJ -1.72 % -4.98 %
Portland-Vancouver-Beaverton OR-WA -1.32 % -3.03 %
Philadelphia PA -1.06 % -1.67 %
Austin-Round Rock TX -0.90 % 4.40 %
Salt Lake City UT -0.70 % 5.27 %
Seattle-Bellevue-Everett WA -0.62 % -3.80 %
San Antonio TX -0.11 % 4.38 %
Dallas-Plano-Irving TX -0.06 % 3.38 %
Houston-Sugar Land-Baytown TX 0.00 % 2.23 %
Raleigh-Cary NC 0.05 % 0.83 %
New York-White Plains-Wayne NY-NJ 0.26 % -3.58 %
Source: First American CoreLogic, LoanPerformance HPI, Single Family
Detached Series as of March 2008

"The CBSAs with the largest declines continue to be in California,
which accounted for nine out of the top ten CBSAs for price declines on a
year-ago basis. The largest declines in California are concentrated in the
Central Valley. Four CBSAs have declined more than 50 percent on a
cumulative basis since their last peak in home prices and 48 CBSAs have
declined 25 percent on a cumulative basis, " added Fleming.

In addition, updated LoanPerformance HPI data through mid-April 2008 is
also available, providing clients with an early snapshot of trends with
only a three-week lag period. Full-month March and mid-month April 2008
state and top CBSA-level data can be found at
http://www.loanperformance.com/products/hpi.aspx.

The LoanPerformance HPI incorporates more than 30 years worth of repeat
sales transactions, representing more than 45 million observations sourced
from First American CoreLogic's industry-leading property information
database. LoanPerformance HPI provides a multi-tier market evaluation based
on price, time between sales, property type and loan type (conforming vs.
nonconforming). With LoanPerformance HPI, users can monitor real estate
trends by market, identify at-risk markets as they unfold, selectively
evaluate markets by tier and fine tune investment strategies.
LoanPerformance HPI is delivered through the TrueStandings(R) Web-based
business intelligence platform, which provides instant access to real
estate price trends in all of the key local markets in the United States.
Data can be sorted by time period, state, county, CBSA and ZIP code.

About First American CoreLogic

First American CoreLogic, a member of The First American Corporation
(NYSE: FAF) family of companies, was formed through the merger of First
American Real Estate Solutions, America's largest provider of advanced
property and ownership information, analytics and services, and CoreLogic,
the leading provider of residential mortgage risk management and fraud
protection technology and services, and the acquisition of LoanPerformance,
the leading provider of mortgage performance data and analytics. The
combined companies' databases cover more than 3,000 counties, representing
99.1 percent of the United States population, data on more than 43 million
active mortgages and more than trillion in loan-level non agency
mortgage securities. With more than 600,000 users nationwide, First
American CoreLogic products are used by businesses to improve customer
acquisition and retention, better manage credit risk, loss mitigation,
securitization and investment, 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 CoreLogic can be found at
http://www.facorelogic.com

About First American

The First American Corporation (NYSE: FAF) is a FORTUNE 500(R) company
that traces its history to 1889. With revenues of approximately $8.2
billion in 2007, 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, Information and Outsourcing
Solutions, Data and Analytic Solutions, and Risk Mitigation and Business
Solutions. More information about the company and an archive of its press
releases can be found at http://www.firstam.com.



Media Contact:
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


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Source: Real Estate Newswire