First American Financial Corporation - FAF STOCK NEWS

First American Title Insurance Company has launched the PRISM™ digital platform, designed for title agents to streamline real estate transactions. The platform automates quote delivery and title ordering, enhancing efficiency and customer engagement through its user-friendly interface accessible on any device. Title agents can provide co-branded marketing materials and property reports, facilitating better relationships with clients. This initiative reflects First American's commitment to digital transformation in the title industry, enhancing the overall real estate transaction experience.

First American Financial Corporation (NYSE: FAF) announced a quarterly cash dividend of 52 cents per share, marking a 2% increase from the previous 51 cents. This decision reflects the company's confidence in its business prospects and commitment to shareholder returns. The dividend will be payable on September 15, 2022, to shareholders on record as of September 8, 2022. The firm, recognized as a leader in title, settlement, and risk solutions for real estate transactions, reported total revenue of $9.2 billion in 2021.

FCT announces an integration with Canadian Residential Appraisal Library (CRAL) ReportPro™ from ACI to enhance real estate technology services.

This collaboration allows appraisers to efficiently populate appraisal forms, significantly reducing turnaround times. FCT aims to improve customer experience through this integration, which combines its technology with ACI's innovative solutions. FCT supports over 450 lenders and 43,000 legal professionals across Canada, affirming its status as a leader in real estate services. The company was recognized as one of Canada’s Top 50 Best Workplaces for eight consecutive years.

First American Data & Analytics, a division of First American Financial Corporation (NYSE: FAF), has unveiled Procision, an innovative automated valuation model (AVM) suite. Utilizing advanced machine learning and blend ensemble modeling, Procision offers unparalleled accuracy for real estate data users. The suite includes three tailored AVM solutions suitable for lenders, proptech firms, and more. Daily updates and rigorous validation ensure high-quality valuations across the U.S. market, fulfilling diverse client needs in risk assessment and marketing.

Endpoint has launched new proprietary solutions for proptech companies and tech-focused real estate organizations, streamlining the closing process for transactions. These solutions, paired with a centralized team of experts, aim to reduce closing times and costs. Endpoint is now licensed in 36 states and plans to reach 43 by the end of 2022. Backed by First American, Endpoint has raised $220 million to support its growth as a digital title and settlement company. Its innovations include APIs for automated order management and transaction tracking, facilitating a seamless digital closing experience.

First American Financial Corporation (NYSE: FAF) reported Q2 2022 financial results, with earnings per diluted share at $1.01. Total revenue reached $2.1 billion, a 9% decline year-over-year, but was $2.2 billion when excluding net investment losses. The company faced $133 million in net investment losses primarily due to decreased marketable equity securities. Commercial revenue surged 30% to $289 million, while the Title Insurance and Services segment pretax margin stood at 11.7%. The board authorized a new $400 million share repurchase program to enhance capital flexibility.