First American Financial Corporation
| Company type | Public |
|---|---|
| Industry | Financial services, Title insurance |
| Founded | 1889 |
| Founder | Charles Edward Parker |
| Headquarters | Santa Ana , United States |
Area served | United States and international (Canada, Mexico, Korea, Hong Kong, Australia, England) |
Key people | Mark E. Seaton (CEO), Matt F. Wajner (CFO), Dennis J. Gilmore (Executive Chairman) |
| Products | Title insurance, closing and settlement services, title plant management, property data access, valuation services, home warranty, property and casualty insurance, banking, trust and investment advisory services |
| Website | www |
First American Financial Corporation is a prominent American financial services firm specializing in title insurance and settlement solutions tailored for the real estate and mortgage sectors.
The primary operations of the First American Family of Companies encompass title insurance alongside closing and settlement services; management of title plants; access to title and property documentation and images; valuation offerings; home warranty coverage; property and casualty insurance products; as well as banking, trust, and investment advisory functions. In 2017, the company generated $5.8 billion in revenue, distributing its services both directly and through affiliated agents.
In June 2010, following a corporate division, First American Financial Corporation was established to concentrate on title and settlement operations, while CoreLogic took charge of real estate information services.
Products and services
First American caters to a diverse clientele including homebuyers, sellers, real estate agents, loan originators, commercial property specialists, homebuilders, and other participants in property transactions. Its portfolio features title insurance and closing/settlement solutions; title plant administration; access to real property records and imagery; real estate appraisal offerings; home warranty products; home insurance plans; along with banking, trust management, and investment advisory services.
Orange County Title Company (1889–1960)
The company's roots trace back to 1889 when Orange County was formed from Los Angeles County in California. Initially, two separate firms managed title-related activities within the new county. In 1894, Charles Edward Parker (C.E. Parker) consolidated these competitors into the Orange County Title Company, assuming its presidency. Starting in 1909, the firm issued annual cash dividends and became one of California's earliest abstract companies licensed to provide title insurance policies.
Donald Parker Kennedy (D.P. Kennedy), grandson of C.E. Parker, joined the firm in 1948 and advocated for expansion beyond Orange County—a strategy that received approval in 1957.
First American Title Insurance and Trust Company (1960–1968)
To reflect its broader geographic reach, Orange County Title was renamed First American Title Insurance in 1960. D.P. Kennedy succeeded his uncle George Parker as president in 1963. The company went public on the over-the-counter market in 1964 and underwent reorganization in 1968 by creating The First American Financial Corporation as a holding entity. First American Title operated as its subsidiary while trust activities were managed through First American Trust Company.
The First American Financial Corporation (1968–2000)
The corporation expanded its presence across the United States by launching new branches and acquiring title and abstract firms. This growth prompted a headquarters enlargement in Santa Ana by 1976; by 1982, it had established coverage throughout all U.S. regions. International ventures commenced in 1988 with offices opened in Canada, followed by expansions into Mexico, Korea, and Hong Kong. The company also achieved leading market positions in Australia and England.
The First American Corporation (2000–2010)
In May 2000, The First American Financial Corporation rebranded as The First American Corporation to signify its expansion beyond traditional financial services and title insurance. At that time, the company managed five distinct divisions: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, and Risk Mitigation and Business Solutions. It maintained a network of roughly 2,100 offices throughout the United States and abroad.
First American Financial Corporation (2010–present)
On June 1, 2010, The First American Corporation divided its financial services and information solutions into two separate publicly traded entities. The title insurance and settlement services segment became First American Financial Corporation, while the property information and analytics operations were spun off to form CoreLogic. This separation allowed First American to focus on its primary business areas.
Common stock of First American Financial Corporation was distributed to existing shareholders on June 1, 2010. Both companies’ shares were traded on a “when-issued” basis from May 24 until June 1, transitioning to full trading on the New York Stock Exchange under the ticker symbol FAF starting June 2. Shareholders received one FAF share for every share they owned in The First American Corporation as of May 26, 2010, with cash compensation provided for any fractional shares.
First American caters to a broad range of clients including homebuyers, sellers, real estate agents, loan originators, commercial real estate professionals, homebuilders, and others involved in residential and commercial property transactions. Its offerings encompass title insurance and settlement services; property data and title plant records; home warranty products; property and casualty insurance; as well as banking, trust, and advisory services.
In February 2020, First American announced its acquisition of Docutech—a provider specializing in document management, electronic signatures, and compliance technology—for $350 million.
In April 2025, Mark E. Seaton assumed the role of Chief Executive Officer, succeeding Ken DeGiorgio. Concurrently, Treasurer Matt F. Wajner was elevated to Chief Financial Officer, while Chairman Dennis J. Gilmore transitioned to Executive Chairman.
Breach
In May 2019, a security flaw on First American Financial Corp’s website exposed hundreds of millions of documents related to mortgage transactions dating back to 2003. The compromised data included highly sensitive personal details such as bank account numbers, mortgage and tax documentation, Social Security numbers, wire transaction receipts, and images of driver’s licenses—all accessible without any authentication requirements. This vulnerability came to light when a real estate developer discovered that modifying a single digit within a document URL could sequentially reveal additional files. An estimated total of 885 million records were potentially impacted. In response, First American immediately disabled external access to the affected application and launched an internal investigation to evaluate the extent of the data security breach.
Subsidiaries and Sub-Brands
First American Financial Corporation offers a range of services beyond title insurance through several subsidiaries and affiliated brands including:
- Datatrace
- Docutech
- First American Data & Analytics
- First American Home Warranty
- First American Title Company
See also
- Title Insurance and Trust Company, based in Los Angeles