First American Financial Corp. and CoreLogic today announced the formal separation of the two companies. First American provides title insurance and other services for residential and commercial real estate sales. CoreLogic generates consumer, financial and property information while providing other business services. At the end of April, First American assigned the CoreLogic name to its information-provider group ahead of the formal announcement. Both will be publicly traded companies. The First American Corp, which assumed the name CoreLogic, distributed one share of First American Financial common stock for each common share of the First American Corp. outstanding as of May 26. On June 2, First American Financial will begin trading on the New York Stock Exchange under the “FAF” ticker symbol. CoreLogic common stock will begin trading under “CLGX.” “Today is the culmination of the many months of hard work necessary to accomplish the launch of these two exciting companies,” said Parker Kennedy, executive chairman of both First American Financial and CoreLogic. Dennis Gilmore will assume the role of CEO of First American Financial, and Anand Nallathambi will be CEO of CoreLogic. Write to Jon Prior. The author holds no relevant investments.
Most Popular Articles
Mortgage applications for new home purchases decreased 3% from May and 23.8% year over year, suggesting buyer fatigue in the housing market.
Title insurers First American, Old Republic, and Stewart released their second quarter earnings this week.