Corelogic (CLGX) 8-K Results of Operations and Financial Condition

EXHIBIT 99.1

Contact: Jo Etta Bandy Vice President Corporate Communications The First American Corporation (714) 800-3298 NEWS FOR
IMMEDIATE
RELEASE

THE FIRST AMERICAN CORPORATION REPORTS

RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2005

SANTA ANA, Calif., Feb. 16, 2006 – The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced results for the fourth quarter and year ended Dec. 31, 2005:

	Three Months Ended December 31				Twelve Months Ended December 31
	2005		2004 (A)		2005		2004 (A)
Total revenues	$	2.21 billion	$	1.80 billion	$	8.06 billion	$	6.72 billion
Income before income taxes and minority interests	$	209.0 million	$	145.0 million	$	903.6 million	$	677.3 million
Net income	$	117.5 million	$	70.4 million	$	485.3 million	$	349.1 million
Net income per diluted share	$	1.19	$	.76	$	4.97	$	3.83

(A) Includes pretax charges of $13.3 million, $8.6 million or 9 cents per diluted share on an after-tax basis, for certain litigation matters, and $24.0 million, $15.7 million or 17 cents per diluted share on an after-tax basis, related to a settlement with the Colorado State Division of Insurance.

Summary of Operations

“We achieved very strong results in 2005,” stated Parker S. Kennedy, chairman and chief executive officer of The First American Corporation. “Our earnings per share increased 30 percent over 2004 despite several interest rate increases by the Federal Reserve. Our Financial Services and Information Technology businesses performed well in 2005 and benefited from improved operating efficiencies, including centralization, technology and offshore processing, and from market share improvement in nearly all of the company’s businesses.

“Highlights of 2005 included the contribution of our Credit Information segment to our publicly held subsidiary, First Advantage Corporation (NASDAQ: FADV), in which we now have approximately a 77 percent ownership; the acquisition of United General, a national title insurance underwriter; the acquisition of LoanPerformance, a mortgage analytics provider; and the agreement to purchase TransContinental Title Company, a

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First American Reports Results for the Fourth Quarter and Full Year 2005

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national lender-oriented title agency based in Florida. Additionally, the company’s stock repurchase program was increased to $200 million and Standard & Poor’s raised First American Title’s financial strength rating from “A-” to “A.”

2006 Strategic Focus and Outlook

Kennedy added: “We will continue to pursue important strategies to maintain strong profits. These strategies, which include superior technology, centralization, offshore processing, bundling, analytics and growth through acquisitions, were key to our profitability in 2004 and 2005. We will build upon these strategies in 2006 and beyond to expand margins, especially in the title insurance segment, and to increase market share in all our businesses. We feel we have built a company that can achieve healthy levels of profitability through any market cycle.

Teleconference/Webcast

First American’s fourth-quarter and year-end results will be discussed in more detail on Thursday, Feb. 16, 2006, at 11 a.m. EST, 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 Feb. 23, 2006, by dialing (203) 369-3615. An audio archive of the call will also be available for replay on First American’s Web site.

About First American

The First American Corporation (NYSE: FAF), a FORTUNE 500^® 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 Risk Mitigation and Business Solutions—a new segment that the company formed in 2005 by combining its Credit Information and Screening Information segments. With revenues of $8.1 billion in 2005, 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.

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Forward Looking Statements

Certain statements made in this press release, including those relating to the pursuit and effect of important strategies, 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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Summary of Earnings

(in thousands, except per share amounts)

	Three Months Ended December 31				Twelve Months Ended December 31
	2005		2004		2005		2004
Total revenues	$	2,205,117	$	1,803,017	$	8,061,758	$	6,722,326
Income before income taxes and minority interests	$	209,005	$	144,958	$	903,628	$	677,284
Income taxes	$	68,900	$	55,700	$	324,500	$	243,200
Minority interests	$	22,616	$	18,856	$	93,862	$	84,985
Net income	$	117,489	$	70,402	$	485,266	$	349,099
Net income per share:
Basic	$	1.23	$	.78	$	5.14	$	4.04
Diluted	$	1.19	$	.76	$	4.97	$	3.83
Weighted average shares outstanding:
Basic		95,835		89,733		94,351		86,430
Diluted		99,198		93,306		97,795		91,895

Summary Balance Sheet Information

(in thousands, except per share amounts)

	December 31 2005		December 31 2004
Total stockholders’ equity	$	3,006,547	$	2,463,564
Book value per share	$	31.36	$	27.36

Summary Title Insurance Order Counts

From Direct Operations

	Three Months Ended December 31
	2005	2004
Title orders opened:
October	210,100	208,000
November	188,100	212,700
December	162,000	187,100
Fourth quarter total	560,200	607,800
Title orders closed:
October	164,000	156,200
November	154,100	163,200
December	152,700	166,300
Fourth quarter total	470,800	485,700

(Additional Financial Data Follows)

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Selected Financial Data

(unaudited, in thousands)

	Three Months Ended December 31						Twelve Months Ended December 31
	2005			2004			2005			2004
RESULTS OF OPERATIONS
Revenues
Operating revenues	$	2,124,468		$	1,759,228		$	7,816,078		$	6,570,746
Investment and other income		57,768			43,111			210,295			141,796
Gain on issuance of subsidiary stock		17,609			1,907			25,658			8,472
Net realized investment gains		5,272			(1,229	)		9,727			1,312
		2,205,117			1,803,017			8,061,758			6,722,326
Expenses
Salaries and other personnel costs		648,238			557,524			2,426,769			2,111,215
Premiums retained by agents		671,184			528,050			2,304,047			1,869,536
Other operating expenses		457,629			416,966			1,695,342			1,488,937
Provision for title losses and other claims		140,210			94,536			457,030			349,618
Depreciation and amortization		46,441			35,301			157,439			128,978
Premium taxes		18,296			13,981			64,193			52,935
Interest		14,114			11,701			53,310			43,823
		1,996,112			1,658,059			7,158,130			6,045,042
Income before income taxes and minority interests	$	209,005		$	144,958		$	903,628		$	677,284
OPERATING REVENUES
Financial Services
Title Insurance and Services:
Direct operations	$	796,226		$	665,726		$	2,968,632		$	2,486,380
Agency operations		825,337			638,552			2,863,306			2,299,656
		1,621,563			1,304,278			5,831,938			4,786,036
Specialty Insurance		76,235			60,384			275,207			220,340
		1,697,798			1,364,662			6,107,145			5,006,376
Information Technology
Mortgage Information		141,255			159,280			584,344			653,562
Property Information		127,778			114,512			511,852			417,758
Risk Mitigation and Business Solutions		169,658			125,253			637,411			509,092
		438,691			399,045			1,733,607			1,580,412
Eliminations		(12,021	)		(4,479	)		(24,674	)		(16,042	)
Total operating revenues	$	2,124,468		$	1,759,228		$	7,816,078		$	6,570,746
INCOME BEFORE INCOME TAXES AND MINORITY INTERESTS
Financial Services
Title Insurance and Services	$	129,375		$	76,194		$	596,865		$	398,777
Specialty Insurance		14,081			8,988			50,544			41,419
		143,456			85,182			647,409			440,196
Information Technology
Mortgage Information		34,462			43,839			141,620			174,868
Property Information		31,473			35,678			151,761			126,460
Risk Mitigation and Business Solutions		29,176			17,198			104,057			73,206
		95,111			96,715			397,438			374,534
Total before corporate expenses and minority interests		238,567			181,897			1,044,847			814,730
Corporate expenses		29,562			36,939			141,219			137,446
Income before income taxes and minority interests	$	209,005		$	144,958		$	903,628		$	677,284

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Segment Margins

(unaudited)

(in thousands, except percentages)

	Three Months Ended December 31
	Total revenues				Pretax (A)				Margins
	2005		2004		2005		2004		2005		2004
Financial Services
Title Insurance and Services	$	1,663,502	$	1,332,769	$	129,375	$	76,194	7.8	%	5.7	%
Specialty Insurance		80,090		64,152		14,081		8,988	17.6	%	14.0	%
	$	1,743,592	$	1,396,921	$	143,456	$	85,182	8.2	%	6.1	%
Information Technology
Mortgage Information	$	142,772	$	159,566	$	34,462	$	43,839	24.1	%	27.5	%
Property Information		134,547		121,447		31,473		35,678	23.4	%	29.4	%
Risk Mitigation and Business Solutions		179,782		127,770		29,176		17,198	16.2	%	13.5	%
	$	457,101	$	408,783	$	95,111	$	96,715	20.8	%	23.7	%
	Twelve Months Ended December 31
	Total revenues				Pretax (A)				Margins
	2005		2004		2005		2004		2005		2004
Financial Services
Title Insurance and Services	$	5,980,220	$	4,875,524	$	596,865	$	398,777	10.0	%	8.2	%
Specialty Insurance		290,511		234,708		50,544		41,419	17.4	%	17.6	%
	$	6,270,731	$	5,110,232	$	647,409	$	440,196	10.3	%	8.6	%
Information Technology
Mortgage Information	$	593,049	$	660,780	$	141,620	$	174,868	23.9	%	26.5	%
Property Information		544,013		443,276		151,761		126,460	27.9	%	28.5	%
Risk Mitigation and Business Solutions		654,753		518,774		104,057		73,206	15.9	%	14.1	%
	$	1,791,815	$	1,622,830	$	397,438	$	374,534	22.2	%	23.1	%

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

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