First American Financial Corp. (FAF) is developing an asset management company to oversee its REO services. The new business is called Residential Management Services, according to a HousingWire source. First American provides title insurance and settlement services for residential and commercial real estate nationwide and in Canada. The Santa Ana, Calif.-based firm spun off from analytics firm CoreLogic (CLGX) in June of last year. That same month, both First American and CoreLogic started trading on the New York Stock Exchange separately. First American reported a first quarter net loss of $15.3 million Thursday, due to a $45.3 million contribution to strengthen reserves covering a guaranteed valuation product sold in Canada. Write to Christine Ricciardi. Follow her on Twitter @HWnewbieCR.
First American to launch asset management business
Most Popular Articles
Latest Articles
Spring housing market gets more inventory
We’ve now had back-to-back weeks of healthy housing inventory growth, making spring 2024 much healthier than spring 2023.
-
The best real estate podcasts for agents and brokers in 2024
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program