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    First American Financial Corp (FAF)

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    First American Financial Corporation (FAF) is a leading provider of title insurance, settlement services, and other financial services and risk solutions. The company primarily operates through its Title Insurance and Services segment, offering a range of services to facilitate real estate transactions. Additionally, FAF sells home warranty products that cover residential systems and appliances.

    1. Title Insurance and Services - Provides title insurance policies for residential and commercial properties, along with closing and escrow services, tax-deferred exchanges, and risk mitigation products. Operates both domestically and internationally, leveraging proprietary databases and innovative technologies to streamline processes.

    2. Home Warranty - Sells residential service contracts covering systems like heating and air conditioning, as well as certain appliances against failures due to normal usage. Operates in 36 states and the District of Columbia.

    3. Corporate and Eliminations - Includes investments in venture-stage companies, financing facilities, and corporate services that support the company's operations. Manages a venture investment portfolio and the operating results related to its property and casualty insurance business, which no longer sells policies.

    NamePositionExternal RolesShort Bio

    Kenneth D. DeGiorgio

    ExecutiveBoard

    Chief Executive Officer

    Director at Offerpad Solutions Inc.; Director at Lev Inc.

    Kenneth D. DeGiorgio has been the Chief Executive Officer of First American Financial Corporation since February 2022. Previously, he served as President from 2021 to 2022 and as Executive Vice President from 2010 to 2021, playing a key role in overseeing various operating groups and corporate functions.

    View Report →

    Lisa W. Cornehl

    Executive

    Senior Vice President, Chief Legal Officer

    Senior Vice President, Chief Legal Officer at FAF since September 2021; previously served as Deputy General Counsel, Litigation from 2015 to 2021 and as Senior Litigation Counsel from 2011 to 2015.

    Mark E. Seaton

    Executive

    Executive Vice President and Chief Financial Officer

    Mark E. Seaton is the Executive Vice President and Chief Financial Officer at FAF since 2013, where he oversees the company’s financial operations. Previously, he served as Senior Vice President, Finance from 2010 to 2013 and Director of Investor Relations from 2006 to 2010.

    Matthew F. Wajner

    Executive

    Vice President, Treasurer

    Matthew F. Wajner has been serving as the Vice President, Treasurer at FAF since 2020. He previously served as the Vice President, Chief Accounting Officer from 2013 to 2020, as Controller from 2010 to 2013, and as Director of SEC Reporting from 2009 to 2010 at FAF.

    Steven A. Adams

    Executive

    Vice President and Chief Accounting Officer

    Steven A. Adams is the Vice President and Chief Accounting Officer at FAF since 2020, where he oversees accounting functions and financial reporting. He brings over two decades of financial leadership experience from previous roles at WASH Multifamily Laundry Systems, Tanium Inc., Aerojet Rocketdyne, DreamWorks Animation, and DIRECTV.

    Deborah L. Wahl

    Board

    Director

    Deborah L. Wahl is an independent director at FAF since September 10, 2024; previously, she served as Senior Vice President and Global Chief Marketing Officer at General Motors from 2019 to 2023 and held key marketing roles at Cadillac, McDonald’s, and PulteGroup.

    Dennis J. Gilmore

    Board

    Chairman of the Board

    Director, Automobile Club of Southern California

    Dennis J. Gilmore served as CEO at FAF from 2010 to 2022 and is currently the Chairman of the Board since February 2022. He has an extensive background in leadership, including roles as COO and CEO of the Financial Services Group at The First American Corporation.

    James L. Doti

    Board

    Director

    Professor of Economics at Chapman University

    James L. Doti has been a director at First American Financial Corporation since 2010, serving as the chair of the Audit Committee and a member of the Executive Committee. He is also a professor of economics at Chapman University since 1974 and served as its president from 1991 to 2016.

    Margaret M. McCarthy

    Board

    Director at First American Financial Corporation

    Marriott International, Inc. - Board Member; American Electric Power - Board Member; Alignment Healthcare, Inc. - Board Member

    Margaret M. McCarthy has been a director at FAF since 2015 and serves as the chair of the Governance Committee. Previously, she held executive roles at CVS Health and Aetna, contributing significantly to technology integration and operational excellence.

    Mark C. Oman

    Board

    Director

    Private ventures; Non-profit boards

    Mark C. Oman has been serving as a Director at FAF since 2013 and is recognized as an audit committee financial expert, serving on both the Audit and Compensation Committees. Previously, he held senior executive roles at Wells Fargo & Company and served as Director and CEO at Wachovia Preferred Funding Corp.

    Marsha A. Spence

    Board

    Board Director

    Marsha A. Spence has a distinguished career in the title insurance and real estate industry, serving as CEO of Mother Lode Holding Co. from 2001 to 2021 and as its Chairman from 2006 until her retirement in 2023. She was appointed to the board of directors at FAF on May 11, 2022, bringing decades of industry expertise.

    Martha B. Wyrsch

    Board

    Director

    Board of Directors at Quanta Services, Inc.; Board of Directors at National Grid plc

    Martha B. Wyrsch has served as a director at FAF since 2018 and is an independent director serving on the Governance and Audit Committees; she brings extensive leadership experience from roles at companies such as Sempra Energy and Vestas American Wind Technology.

    Michael D. McKee

    Board

    Independent Director, Chair of the Compensation Committee

    Principal of The Contrarian Group (2018–Present); Chairman of Realty Income Corporation

    Michael D. McKee has served on the board of FAF as an independent director and chair of the Compensation Committee since 2011. He brings extensive expertise in real estate and executive management from roles such as Principal of The Contrarian Group (2018–Present) and Chairman of Realty Income Corporation.

    Parker S. Kennedy

    Board

    Chairman Emeritus and Lead Independent Director

    Director, Automobile Club of Southern California

    Parker S. Kennedy has over 40 years of leadership experience at FAF, currently serving as Chairman Emeritus and Lead Independent Director. He previously held executive-level roles as Chairman of the Board from 2010 to 2022 and Executive Chairman from 2010 to 2012.

    Reginald H. Gilyard

    Board

    Director

    Senior Advisor at BCG; Director at CBRE Group, Inc.; Director at Realty Income Corporation; Director at Orion Office REIT Inc.

    Reginald H. Gilyard has served as a director at FAF since 2017, contributing as an independent board member on the Governance Committee. Previously, he has held key leadership roles including Senior Advisor at BCG since 2012 and directorships at CBRE Group, Realty Income Corporation, and Orion Office REIT Inc..

    1. Given the significant growth in your commercial revenue in the fourth quarter, up 47% compared to last year [13], how do you plan to sustain this momentum throughout 2025, especially considering the anticipated tougher comparisons against the strong second half of 2024 [13]?

    2. With the Fed's three rate cuts presenting a $45 million headwind to investment income [15], what specific strategies are you implementing to offset this and ensure continued growth in investment income for 2025 [15]?

    3. Despite achieving an adjusted pretax title margin of 10.3% for 2024 [9], what measures are you taking to achieve further margin expansion in 2025, particularly in light of ongoing market uncertainties and cost pressures [4][8]?

    4. The "Information and Other" revenue segment benefited from reduced rates in Canada, leading to increased refinance activity [14]; how do you plan to maintain this growth if rates in Canada stabilize or increase [14]?

    5. Given your expectation of modest improvements in residential purchase and refinance markets in 2025 [9][10], what strategies are you employing to capture additional market share in a competitive environment while mitigating potential risks from market headwinds [10]?

    Program DetailsProgram 1
    Approval DateJune 2022
    End Date/DurationNo expiration date
    Total Additional Amount$400.0 million
    Remaining Authorization$145.4 million
    DetailsPurchases may be made in the open market at prevailing market prices or in privately negotiated transactions

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    A major nationwide competitor in the principal markets of title insurance and related products and services. The company competes in areas of major real estate activity, such as metropolitan and suburban localities.

    Another major nationwide competitor in the principal markets of title insurance and related products and services. The company competes aggressively in areas of major real estate activity.

    Stewart Title Guaranty Company

    A significant nationwide competitor in the title insurance and related products and services market. The company competes in areas of major real estate activity.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Mother Lode Holding Company

    2022

    The acquisition by First American Financial Corporation was completed on May 2, 2022, with a total purchase price of $300 million (5.1x trailing EBITDA), funded using cash on hand. The deal strategically expanded FAF's footprint by adding 92 offices across 11 states (including key markets like California, Texas, and Arizona), 10 regional brands, and over 1,000 employees.

    Recent press releases and 8-K filings for FAF.

    First American Financial Reports Q1 2025 Results
    FAF
    Earnings
    CEO Change
    Share Buyback
    • Total revenue was $1.6 billion, an 11% increase year-over-year with net income of $74 million (0.71 EPS) (doc ).
    • Adjusted net income reached $88 million with an adjusted EPS of 0.84, reflecting improved operational performance (doc ).
    • The company repurchased 447,812 shares for $28 million in Q1, with additional share buybacks started in early Q2 (doc ).
    • Mark Seaton was appointed as CEO in April 2025, indicating a key leadership update (doc ).
    1 day ago
    First American Financial Corp Elevates Mark Seaton to CEO
    FAF
    CEO Change
    CFO Change
    Board Change
    • Mark E. Seaton, previously serving as Chief Financial Officer since 2013, has been elevated to Chief Executive Officer effective April 10, 2025.
    • Matt F. Wajner has been promoted to Chief Financial Officer while Chairman Dennis J. Gilmore transitions to Executive Chairman, indicating a key management realignment.
    • The announcement confirms the departure of former CEO Kenneth D. DeGiorgio, whose role ended without cause, marking a significant leadership change.
    Apr 15, 2025, 12:00 AM