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First American and NAHREP Form Alliance to Increase Latino Homeownership

June 21, 2004

SANTA ANA, Calif., and SAN DIEGO, /PRNewswire-FirstCall/ -- The First American Corporation and the National Association of Hispanic Real Estate Professionals (NAHREP) have formed of an alliance to extend innovative business resources to the more than 10,000 NAHREP members who serve millions of Latino homebuyers across the nation. First American's business and information tools will enable NAHREP professionals to provide better service to the under-served Hispanic community and thereby enhance the chances of homeownership for many.

"With more than 10,000 active members, NAHREP is a respected and nationally recognized organization that is committed to empowering Hispanic real estate professionals and helping them educate their clients about the homeownership opportunities in their communities," said Landon V. Taylor, vice president of market development for The First American Corporation. "This partnership is a tremendous way to introduce our specialized products aimed at increasing homeownership in these under-served communities."

Under the agreement, NAHREP and First American will form a professional services division within NAHREP that will provide member practitioners with business tools, resources and industry information that have only been available to the nation's largest real estate franchises and mortgage lenders until now. A partial list of resources available through this alliance include:

* Web-based technology solutions that provide NAHREP members with more sophisticated tools to attract and prequalify homebuyers * Automated, direct marketing programs to allow NAHREP members to access new potential clients and increase transaction volume * A national Internet marketing program that will reach more than 120 million Spanish-speaking Web site viewers per year * Alternative credit products designed to expand the availability of 'A' grade mortgage financing to loan applicants considered ineligible by traditional scoring methods * Guaranteed closing-cost packages that reduces buyers' out-of-pocket cash required to complete home purchases

Source: NAHREP



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