Corelogic (CLGX) 8-K The First American Corporation Reports

Exhibit 99.1

Contact:   Thomas A. Klemens Senior Executive Vice President & Chief Financial Officer (714) 800-4401   NEWS   FOR
IMMEDIATE
RELEASE

THE FIRST AMERICAN CORPORATION REPORTS

RECORD RESULTS FOR THE SECOND QUARTER 2005

SANTA ANA, Calif., July 27, 2005 – The First American Corporation (NYSE: FAF), the nation’s largest data provider, today announced results for the second quarter ended June 30, 2005:

	Three Months Ended June 30				Six Months Ended June 30
	2005		2004		2005		2004
Total revenues	$	1.98 billion	$	1.72 billion	$	3.69 billion	$	3.20 billion
Income before income taxes and minority interests	$	265.6 million	$	219.2 million	$	419.3 million	$	330.3 million
Net income	$	139.5 million	$	116.5 million	$	218.7 million	$	171.5 million
Net income per diluted share	$	1.43	$	1.27	$	2.27	$	1.90

Summary of Operations

“The company posted record revenues and profits for the second quarter,” stated Parker S. Kennedy, chairman and chief executive officer of The First American Corporation. “Second quarter earnings benefited from a 16 percent increase in closed title orders, compared with first quarter closings. While interest rate hikes during the first half of 2005 slowed refinancings, residential and commercial property purchase transactions remained solid, which resulted in steady real estate activity for the company’s real estate-related businesses. These strong results reflect the benefits of ourFAST Transaction System and the ongoing implementation of strategies such as centralized processing, bundling, strong acquisitions and market share growth.”

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First American Reports Record Results for the Second Quarter 2005

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Quarterly Financial Highlights

Financial Services Group:

• Revenues for the second quarter 2005 were $1.53 billion, an increase of 17 percent when compared with $1.31 billion for the second quarter of 2004.

• Pretax income was $193.7 million, an increase of 27 percent when compared with $152.1 million in the prior year quarter.

• Pretax margins for the second quarter 2005 were 12.7 percent compared with 11.6 percent for the second quarter 2004.

Information Technology Group:

• Revenues for the second quarter 2005 were $453.0 million, an increase of 10 percent when compared with $411.4 million for the second quarter of 2004.

• Pretax income was $107.4 million, a 9 percent increase when compared with $98.5 million in the prior year quarter.

• Pretax margins for the second quarter 2005 were 23.7 percent compared with 23.9 percent for the second quarter 2004.

2005 Outlook and Strategic Focus

Kennedy continued: “During the second half of 2005, strategies to increase cost efficiencies, expand businesses and sell more data to more customers will play an important role in keeping profit margins steady. We will continue to seek opportunities to leverage data in our businesses to create specialized analytic products. We expect the contribution of First American’s credit businesses to First Advantage Corporation (NASDAQ:FADV) will be completed in the third quarter of 2005. This strategic move positions First American as the leading real estate data company and First Advantage as a significant business information company.”

Teleconference/Webcast

First American’s second quarter results will be discussed in more detail on Wednesday, July 27, 2005, at 11 a.m. EDT, via teleconference. The dial-in number is (888) 955-3516 and the pass code is FIRST AMERICAN. The live audio webcast of the call will be available on First American’s Web site atwww.firstam.com/investor. An audio replay of the conference call will be available through August 5, 2005, by dialing (203) 369-1087. An audio archive of the call will also be available for replay on First American’s Web site.

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First American Reports Record Results for the Second Quarter 2005

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About First American

The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889, is the nation’s largest data provider. 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 six primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.72 billion in 2004, First American has approximately 2,000 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found atwww.firstam.com.

Forward-Looking Statements

Certain statements made in this press release, including those related to strategies in the second half of 2005 and the closing of the transaction with First Advantage Corporation, are forward looking. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: interest rate fluctuations; changes in the performance of the real estate markets; limitations on access to public records and other data; general volatility in the capital markets; changes in applicable government regulations; consolidation among the company’s significant customers and competitors; the company’s continued ability to identify businesses to be acquired; changes in the company’s ability to integrate businesses which it acquires; and other factors described in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2004, as filed with the Securities and Exchange Commission. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

(Additional Financial Data Follows)

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First American Reports Record Results for the Second Quarter 2005

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Summary of Earnings

(in thousands, except per share amounts)

	Three Months Ended June 30				Six Months Ended June 30
	2005		2004		2005		2004
Total revenues	$	1,983,975	$	1,724,053	$	3,688,459	$	3,197,824
Income before income taxes and minority interests	$	265,560	$	219,191	$	419,262	$	330,321
Income taxes	$	100,700	$	79,300	$	154,500	$	116,700
Minority interests	$	25,367	$	23,365	$	46,107	$	42,139
Net income	$	139,493	$	116,526	$	218,655	$	171,482
Net income per share:
Basic	$	1.47	$	1.32	$	2.35	$	2.05
Diluted	$	1.43	$	1.27	$	2.27	$	1.90
Weighted average shares outstanding:
Basic		94,639		88,071		93,106		83,697
Diluted		97,990		92,083		96,559		91,373

Summary Balance Sheet Information

(in thousands, except per share amounts)

	June 30 2005		December 31 2004
Total stockholders’ equity	$	2,797,819	$	2,463,564
Book value per share	$	29.46	$	27.36

Summary Title Insurance Order Counts

From Direct Operations

	Three Months Ended June 30
	2005	2004
Title orders opened:
April	238,200	216,100
May	247,500	200,800
June	269,200	218,600
Second quarter total	754,900	635,500
Title orders closed:
April	165,400	167,500
May	171,900	168,800
June	194,900	182,200
Second quarter total	532,200	518,500

(Additional Financial Data Follows)

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First American Reports Record Results for the Second Quarter 2005

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Selected Financial Data

(unaudited, in thousands)

	Three Months Ended June 30				Six Months Ended June 30
	2005		2004		2005		2004
RESULTS OF OPERATIONS
Revenues
Operating revenues	$	1,924,899	$	1,685,098	$	3,588,457	$	3,130,631
Investment and other income		55,027		36,237		94,331		63,144
Net realized investment gains		4,049		2,718		5,671		4,049
		1,983,975		1,724,053		3,688,459		3,197,824
Expenses
Salaries and other personnel costs		601,487		534,622		1,149,972		1,008,397
Premiums retained by agents		539,665		458,502		1,025,624		882,736
Other operating expenses		413,774		372,438		777,347		713,277
Provision for title losses and other claims		99,857		85,686		190,634		157,107
Depreciation and amortization		37,202		31,326		72,949		60,696
Premium taxes		15,413		13,090		28,943		25,630
Interest		11,017		9,198		23,728		19,660
		1,718,415		1,504,862		3,269,197		2,867,503
Income before income taxes and minority interests	$	265,560	$	219,191	$	419,262	$	330,321
OPERATING REVENUES
Financial Services
Title Insurance and Services:
Direct operations	$	740,203	$	659,945	$	1,352,220	$	1,175,451
Agency operations		681,634		574,338		1,281,101		1,091,148
		1,421,837		1,234,283		2,633,321		2,266,599
Specialty Insurance		63,785		51,847		124,294		98,339
		1,485,622		1,286,130		2,757,615		2,364,938
Information Technology
Mortgage Information		150,499		167,649		292,972		322,584
Property Information		127,525		99,525		238,427		191,502
Credit Information		78,350		62,912		144,695		125,364
Screening Information		82,903		68,882		154,748		126,243
		439,277		398,968		830,842		765,693
Total operating revenues	$	1,924,899	$	1,685,098	$	3,588,457	$	3,130,631
INCOME BEFORE INCOME TAXES AND MINORITY INTERESTS
Financial Services
Title Insurance and Services	$	180,685	$	140,497	$	271,941	$	199,074
Specialty Insurance		13,053		11,653		22,858		24,097
		193,738		152,150		294,799		223,171
Information Technology
Mortgage Information		41,606		47,992		72,225		78,339
Property Information		41,838		32,955		77,590		60,473
Credit Information		20,571		12,022		39,431		27,020
Screening Information		3,349		5,537		8,906		6,639
		107,364		98,506		198,152		172,471
Total before corporate expenses and minority interest		301,102		250,656		492,951		395,642
Corporate expense		35,542		31,465		73,689		65,321
Income before income taxes and minority interests	$	265,560	$	219,191	$	419,262	$	330,321

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First American Reports Record Results for the Second Quarter 2005

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Segment Margins

(unaudited)

(in thousands, except percentages)

	Three Months Ended June 30
	Total revenues				Pretax (A)				Margins
	2005		2004		2005		2004		2005		2004
Financial Services
Title Insurance and Services	$	1,460,457	$	1,257,070	$	180,685	$	140,497	12.4	%	11.2	%
Specialty Insurance		67,504		54,992		13,053		11,653	19.3	%	21.2	%
	$	1,527,961	$	1,312,062	$	193,738	$	152,150	12.7	%	11.6	%
Information Technology
Mortgage Information	$	152,557	$	170,081	$	41,606	$	47,992	27.3	%	28.2	%
Property Information		136,491		106,577		41,838		32,955	30.7	%	30.9	%
Credit Information		80,545		65,867		20,571		12,022	25.5	%	18.3	%
Screening Information		83,377		68,916		3,349		5,537	4.0	%	8.0	%
	$	452,970	$	411,441	$	107,364	$	98,506	23.7	%	23.9	%
	Six Months Ended June 30
	Total revenues				Pretax (A)				Margins
	2005		2004		2005		2004		2005		2004
Financial Services
Title Insurance and Services	$	2,698,378	$	2,304,992	$	271,941	$	199,074	10.1	%	8.6	%
Specialty Insurance		131,548		105,718		22,858		24,097	17.4	%	22.8	%
	$	2,829,926	$	2,410,710	$	294,799	$	223,171	10.4	%	9.3	%
Information Technology
Mortgage Information	$	296,661	$	326,706	$	72,225	$	78,339	24.3	%	24.0	%
Property Information		254,544		203,870		77,590		60,473	30.5	%	29.7	%
Credit Information		148,972		130,259		39,431		27,020	26.5	%	20.7	%
Screening Information		155,751		126,359		8,906		6,639	5.7	%	5.3	%
	$	855,928	$	787,194	$	198,152	$	172,471	23.2	%	21.9	%

(A) - Income before income tax, minority interest and corporate expenses

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