First American Offers Wildfire Victims Free Replacement Property Deeds

Rhea-AI Summary

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.

Positive

• Demonstrates corporate social responsibility and community engagement
• Leverages existing digital infrastructure to provide immediate value to affected residents
• Shows strong employee participation in relief efforts with $23,000+ in donations

Negative

• None.

Insights

Corporate Social Responsibility Analyst

First American's strategic response to the LA wildfires reveals several key business strengths that merit investor attention. The company's ability to instantly provide digital access to 99% of LA County residential property deeds demonstrates superior digital infrastructure and market penetration, positioning them ahead of competitors in the digital transformation of title services.

The combined charitable contribution of $48,000 between corporate and employee donations, while modest relative to First American's 6.57 billion market cap, strategically reinforces their community presence in Southern California, a important market where they've operated for 135 years. The free deed replacement initiative leverages existing technology infrastructure at minimal marginal cost while generating significant goodwill and potential customer loyalty.

This initiative particularly highlights three strategic advantages:

• Operational efficiency in digital document management, suggesting strong positioning for future market digitalization
• Deep market penetration in key geographic areas, evidenced by their comprehensive property deed database
• Strong employee engagement, demonstrated by significant staff participation in disaster relief efforts

While the immediate financial impact is negligible, this response strengthens First American's competitive moat in the title insurance and settlement services sector, potentially leading to enhanced customer retention and market share growth in the recovering regions.

—Individuals affected by the wildfires who need to replace their property deed can download the documents at no cost via online portal launched on Jan. 31—

SANTA ANA, Calif.--(BUSINESS WIRE)-- First American Financial Corporation (NYSE: FAF), a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today announced that victims of the recent Los Angeles wildfires can access free replacement property deeds via an online portal launched on Friday, Jan. 31. These important documents, which can take weeks to acquire from the county recorder’s office, can be easily downloaded by fire victims once their identity is verified and a personalized account log-in created at https://owner.firstam.com/socal-wildfires. First American can provide instant access to digital copies of deeds for nearly 99% of residential properties in Los Angeles County.

“Stepping up in challenging times reflects our commitment to the communities we serve and call home,” said Ken DeGiorgio, CEO of First American. “First American’s roots in Southern California and the greater Los Angeles area trace back 135 years, so we feel the responsibility to find ways we can help our neighbors, friends and families cope with this tragedy.”

First American Steps Up for Wildfire Relief

First American has also donated $25,000 to the Los Angeles Fire Department (LAFD) Foundation, which provides much-needed food, basic necessities and additional community services to local residents, as well as important resources for firefighters. Additionally, First American employees have rallied to collectively donate more than $23,000 to the American Red Cross via an employee fundraising drive.

About First American

First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $6.0 billion in 2023, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2024, First American was named one of the 100 Best Companies to Work For by Great Place to Work^® and Fortune Magazine for the ninth consecutive year, and named one of the 100 Best Workplaces for Innovators by Fast Company for the second consecutive year. More information about the company can be found at www.firstam.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250203969928/en/

Media Contact:

Marcus Ginnaty

Corporate Communications

First American Financial Corporation

(714) 250-3298

Investor Contact:

Craig Barberio

Investor Relations

First American Financial Corporation

(714) 250-5214

Source: First American Financial Corporation

FAQ

How can Los Angeles wildfire victims access free property deeds through First American (FAF)?

Wildfire victims can access free replacement property deeds by creating a personalized account and verifying their identity at https://owner.firstam.com/socal-wildfires.

What percentage of LA County residential properties can First American (FAF) provide deed copies for?

First American can provide instant access to digital copies of deeds for nearly 99% of residential properties in Los Angeles County.

How much did First American (FAF) donate to wildfire relief efforts in January 2024?

First American donated $25,000 to the LAFD Foundation, while employees separately donated over $23,000 to the American Red Cross.

When did First American (FAF) launch its wildfire victim deed replacement portal?

First American launched the online portal for free replacement property deeds on January 31, 2024.