First Amern Finl Corp - FAF STOCK NEWS

ServiceMac, a mortgage subservicer and First American company member, has been awarded gold in Freddie Mac's 2024 Servicer Honors and Rewards Program (SHARP) for servicers managing 75,000-199,999 Freddie Mac mortgages. The recognition highlights ServiceMac's excellence in customer service, credit risk minimization, and cost reduction.

Bob Caruso, ServiceMac's president and CEO, emphasized their focus on superior customer service delivery, efficiency maximization, and portfolio risk management through their proprietary subservicing technology platform. Donna Spencer, Freddie Mac's vice president, praised the winners' contributions to homeowner outcomes.

Founded in 2017 and acquired by First American in October 2021, ServiceMac began portfolio operations in 2019 and now services over $200 billion in first and second mortgage portfolios. The company's growth is attributed to its technology, risk management, compliance tools, customer service, and experienced team.

First American Data & Analytics released its January 2025 Home Price Index (HPI) report, showing that the Atlanta-Sandy Springs-Alpharetta market experienced a 1.0% year-over-year increase in home prices, while declining 0.1% month-over-month.

Nationally, house price growth slowed to its lowest pace since June 2023, with a 3.3% year-over-year increase. The luxury market segment showed particular strength, with the Atlanta metro area recording a 4.8% increase in luxury tier prices, compared to 2.0% in mid-tier and 1.2% in starter homes.

Chief Economist Mark Fleming attributes the slowdown to elevated mortgage rates reducing buying power and increasing inventory levels. The luxury market remains resilient, with prices growing in 25 of 28 tracked markets, supported by cash buyers less affected by the lock-in effect. National sales of homes priced over $1 million jumped 35%, while homes in the $750,000-$1 million range increased 33%.

First American Data & Analytics released its January 2025 Home Price Index (HPI) report, revealing the slowest national house price growth since June 2023. The report shows a modest month-over-month increase of 0.1% and a year-over-year growth of 3.3%.

House prices are now 54.8% higher than pre-pandemic levels. Chief Economist Mark Fleming attributes the slowdown to elevated mortgage rates reducing buyer purchasing power and increasing inventory levels. The luxury market segment showed particular strength, with price growth in 25 of 28 tracked markets.

Among metropolitan areas, St. Louis and Cambridge, Mass. led with the highest year-over-year increases at 4.6%, while Oakland, Calif. and Tampa, Fla. showed the largest decreases at -3.8%. The luxury tier demonstrated notable performance, with Cambridge, Las Vegas, and Washington showing the strongest growth in this segment.

First American Data & Analytics released its January 2025 Home Price Index (HPI) report, revealing that the New York-Jersey City-White Plains market saw home prices increase by 1.8% year-over-year, despite a -1.6% month-over-month decline. Nationally, house price growth slowed to its lowest pace since June 2023, with a modest 3.3% year-over-year increase.

The luxury price tier showed strong performance across markets, with prices growing in 25 of 28 tracked markets. In the New York-Jersey City-White Plains metro area, the luxury tier led with 4.0% growth, followed by the starter tier at 3.9% and mid-tier at 3.2%. Chief Economist Mark Fleming attributes this trend to luxury home buyers being less affected by the lock-in effect and their ability to make cash purchases.

Among major markets, St. Louis and Cambridge, Mass. topped the list with 4.6% overall price increases, while Oakland and Tampa showed the largest decreases at -3.8%.

First American Data & Analytics released its January 2025 Home Price Index (HPI) report, revealing that home prices in the Dallas-Plano-Irving market remained unchanged year-over-year, while showing a slight decline of 0.2% month-over-month.

The national HPI showed a modest increase of 0.1% month-over-month and 3.3% year-over-year, marking the slowest growth pace since June 2023. Chief Economist Mark Fleming attributes this slowdown to elevated mortgage rates reducing buyer purchasing power and increasing inventory levels.

In the Dallas-Plano-Irving metro area, price changes varied across market segments: the luxury tier showed strong growth at +3.2%, the mid-tier increased slightly by +0.1%, while the starter tier declined by -1.0%. Notably, luxury home sales are outperforming nationally, with homes priced above $1 million seeing a 35% jump in sales.

First American Data & Analytics released its January 2025 Home Price Index (HPI) report, revealing that the Los Angeles-Long Beach-Glendale market experienced a 1.9% year-over-year decline in home prices and a 1.3% month-over-month decrease.

Nationally, house price growth slowed to its lowest pace since June 2023, with a modest 0.1% month-over-month increase and a 3.3% year-over-year gain. Chief Economist Mark Fleming attributes this slowdown to elevated mortgage rates reducing buying power and increasing inventory levels.

In the Los Angeles market, price changes varied across segments: starter homes declined by 1.5%, mid-tier properties increased by 0.8%, and luxury homes decreased by 1.1%. Notably, luxury home buyers, less affected by the lock-in effect, showed strong activity nationwide, with sales of homes priced over $1 million jumping 35% nationally.

First American Data & Analytics released its January 2025 Home Price Index (HPI) report, showing the Houston-The Woodlands-Sugar Land market experienced a 1.7% year-over-year price increase. The national house price growth slowed to its lowest pace since June 2023, with a 3.3% year-over-year increase.

In the Houston metro area, price growth varied across segments: starter homes rose 0.7%, mid-tier increased 1.9%, and luxury homes showed the strongest growth at 4.7%. This trend reflects a broader pattern where luxury homes outperformed other segments in 25 of 28 tracked markets.

The report highlighted significant variations across major markets. St. Louis and Cambridge, Mass. led with the highest year-over-year increases at 4.6%, while Oakland, Calif. and Tampa, Fla. showed the largest decreases at -3.8%. Chief Economist Mark Fleming attributes the slowdown to elevated mortgage rates reducing buying power and increasing inventory levels.

First American Financial (NYSE: FAF) reported Q4 2024 results with earnings per diluted share of $0.69, or $1.35 adjusted. Total revenue reached $1.7 billion, up 18% year-over-year. The Title Insurance segment saw significant growth with commercial revenues of $252 million, up 47% compared to last year.

Key Q4 highlights include Title Insurance and Services segment pretax margin of 7.9% (11.8% adjusted) and Home Warranty segment pretax margin of 18.1%. The company reported net investment losses of $86 million, primarily due to asset impairments and venture portfolio losses.

For full-year 2024, FAF reported total revenue of $6.1 billion, up 2% from 2023, with earnings per diluted share of $1.26 ($4.40 adjusted). The company maintained active share repurchases, buying back 1.2 million shares for $68 million in 2024, and raised its annual dividend by 2% to $2.16 per share.

First American Financial (NYSE: FAF) has launched an online portal on January 31 to provide free replacement property deeds to victims of recent Los Angeles wildfires. Property owners can access digital copies of deeds instantly after identity verification and account creation at owner.firstam.com/socal-wildfires.

The company can provide digital copies for nearly 99% of residential properties in Los Angeles County, offering a significantly faster alternative to the weeks-long process typically required through the county recorder's office. Additionally, First American has donated $25,000 to the Los Angeles Fire Department Foundation for community services and firefighter resources, while employees have collectively contributed over $23,000 to the American Red Cross.