Asia PR News

SANTA ANA, Calif., Oct. 31 /PRNewswire-AsiaNet/ –

Genworth Financial Becomes Largest AVM Customer in Australia

RP Data, Ltd. (ASX: RPX), the largest supplier of property information
services in Australia and New Zealand, and First American CoreLogic, Inc., a
U.S.-based minority investor in RP Data, announced today that Genworth
Financial has signed an agreement to license RP Data’s advanced set of
automated valuation models (AVMs) for use in the Australian residential
property market.

Genworth Financial, a leading provider of lenders mortgage insurance and
credit enhancement product solutions in Australia and New Zealand, is the
first customer to benefit from RP Data’s recent introduction of enhanced
automated valuation models using the proprietary algorithms and advanced
analytics available from First American CoreLogic. Genworth Financial has
adopted the entire suite of RP Data’s property information and analytics to
improve their decision making, processing efficiency and risk management
capabilities. The end-to-end enterprise solution covers processing, management
and monitoring of property services and associated risks.

"We are confident that RP Data will help us expand our leadership in the
Australian mortgage insurance market by using their proven AVM technology,"
said Peter Hall country executive and director of Genworth Financial. "Through
RP Data’s technology, we are able to more confidently provide lenders with
mortgage insurance solutions that can assist customers in growing and
providing homeownership opportunities to more borrowers throughout Australia."

RP Data’s AVMs automatically value more than 7 million residential
properties in Australia and New Zealand each week to create comprehensive and
accurate valuation reports on the residential real estate market. The RP Data
AVM platform, in combination with First American CoreLogic databases and
analytic models, provides Genworth Financial with instant access to the most
reliable AVMs in Australia today. Genworth Financial is the first company in
the Australian financial industry to integrate RP Data analytics and data
services into a single valuation services platform.

"We are looking forward to a long, successful partnership with Genworth
Financial," said Graham Mirabito, chief executive officer of RP Data. "Our
capabilities and leadership in the AVM market will help Genworth Financial
provide real-time valuation services that place their company years ahead of
the competition by enabling access to the most advanced automated risk
mitigation, collateral management and real estate valuation tools on the
market."

Genworth evaluates every application that it receives by referencing it
against RP Data’s automated valuation models, which are updated weekly to
provide a valuation on every property in Australia. This property-check system
allows valid applications to proceed through the loan application process
while capturing and highlighting transactions that require additional review.
Using the RP Data tools, Genworth is also able to continuously monitor the
performance of the underlying collateral in its portfolios, making it possible
to proactively manage risk. In addition, portfolios and individual properties
are monitored with RP Data’s Mortgage Monitor Solution, which scrutinizes
every Genworth-tagged property for ownership changes that ultimately affect
the property’s status and underlying risk.

About RP Data
Established in 1991, Australia Stock Exchange — listed RP Data (ASX: RPX)
is the largest supplier of property information services throughout Australia
and New Zealand. RP Data’s clients include more than 8,500 real estate agents,
valuers, property developers, financial institutions and government
departments. RP Data’s consumer site is the leading property data reporting
site, delivering more than 600,000 property reports per year to its consumer
customers. In addition to RP Data’s property information services, the company
provides in-house management software to more than 1,100 real estate agencies.
RP Data’s databases cover 97 percent of all properties in Australia and
include more than 65 million data records made up of more than 12 million
property ownership records, 11 million property attribute records, 3.6 million
property features records, 15.8 million property sales records, 12 million
property maps, 16.8 million property photos and 9 million "on the market"
property listing records. For more information visit http://www.rpdata.com.

About Genworth Financial
Genworth Financial is a leading financial security company meeting the
retirement, longevity, lifestyle protection, investment and mortgage insurance
needs of more than 15 million customers, with a presence in 25 countries. For
more information, visit genworth.com.

About First American CoreLogic
First American CoreLogic, a member of The First American Corporation
(NYSE: FAF) family of companies, was formed through the merger of First
American Real Estate Solutions, America’s largest provider of advanced
property and ownership information, analytics and services, with CoreLogic
Systems, the leading provider of residential mortgage risk management and
fraud protection technology and services. The combined companies’ databases
cover more than 2,900 counties, representing 99.1 percent of the United States
population. With more than 600,000 users nationwide, First American CoreLogic
products are used by businesses to improve customer acquisition and retention,
detect and prevent fraud, improve mortgage transaction cycle time and cost
efficiency, measure the value of residential and commercial properties,
identify real estate trends and neighborhood characteristics, track market
performance and increase market share. More information can be found on the
Internet at http://www.corelogic.com or http://www.firstamres.com.

About The First American Corporation
The First American Corporation (NYSE: FAF), a FORTUNE 500(R) company that
traces its history to 1889, is America’s largest provider of business
information. First American combines advanced analytics with its vast data
resources to supply businesses and consumers with valuable information
products to support the major economic events of people’s lives, such as
getting a job, renting an apartment, buying a car or house, securing a
mortgage and opening or buying a business. The First American Family of
Companies, many of which command leading market share positions in their
respective industries, operate within five primary business segments,
including: Title Insurance and Services, Specialty Insurance, Mortgage
Information, Property Information and First Advantage. With revenues of $8.5
billion in 2006, First American has approximately 2,100 offices throughout the
United States and abroad. More information about the company and an archive of
its press releases can be found at http://www.firstam.com.

Media Contact: Investor Contact:
Carrie Gaska Mark Seaton
Corporate Communications Investor Relations
The First American Corporation The First American Corporation
(714) 250-3298 (714) 250-4264
cgaska@firstam.com mseaton@firstam.com

SOURCE The First American Corporation

CONTACT: media,
Carrie Gaska,
Corporate Communications,
+1-714-250-3298,
cgaska@firstam.com, or

investors,
Mark Seaton,
Investor Relations,
+1-714-250-4264,
mseaton@firstam.com, both of The First American Corporation

Web site: http://www.firstam.com
http://www.firstamres.com
http://www.corelogic.com
http://www.rpdata.com
http://www.genworth.com
(FAF)