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.
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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.
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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.
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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.
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| Name | Position | External Roles | Short 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.. |
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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]?
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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]?
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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]?
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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]?
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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]?
Research analysts who have asked questions during First American Financial earnings calls.
Bose George
Keefe, Bruyette & Woods
6 questions for FAF
Mark DeVries
Deutsche Bank
6 questions for FAF
Terry Ma
Barclays
6 questions for FAF
John Campbell
Stephens Inc.
3 questions for FAF
Mark Hughes
Truist Securities
3 questions for FAF
Maxwell Fritzsche
Truist Securities
3 questions for FAF
Geoffrey Dunn
Dowling & Partners
2 questions for FAF
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
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.
| Company | Year | Details |
|---|---|---|
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.
- The San Diego-Chula Vista-Carlsbad metropolitan area experienced a 2.3% year-over-year decrease in its Home Price Index (HPI) in September 2025.
- Nationally, the Home Price Index (HPI) showed a 1.1% year-over-year increase in September 2025, but is 0.7 percent below its peak in May.
- The housing market is experiencing a steadily unfolding cooldown, with annual price appreciation slowing to its slowest pace since 2012.
- While some regions like the Northeast and Midwest show continued house price growth, 19 of the 30 largest markets tracked saw year-over-year declines in September 2025, particularly in Sun Belt markets like Phoenix and Tampa, Fla..
- This market shift provides buyers with more choices and greater negotiating power as demand adjusts to affordability constraints and inventory improves.
- Los Angeles-Long Beach-Glendale home prices decreased by 1.4% year-over-year in September 2025.
- Nationally, the Home Price Index (HPI) was 0.7% below its May peak and saw a 0.1% month-over-month decrease from August to September 2025, while still showing a 1.1% year-over-year increase.
- The housing market is experiencing its tenth consecutive month of slowing annual price appreciation, reaching its slowest pace since 2012.
- Regional differences are significant, with price growth in the Northeast and Midwest contrasting with declines in some Sun Belt markets like Phoenix and Tampa.
- First American Data & Analytics' September 2025 Home Price Index (HPI) report indicates that national house prices increased by 1.1 percent year-over-year but were 0.7 percent below their May peak.
- The report highlights a cooling national housing market, with annual price appreciation slowing to its slowest pace since 2012 and prices declining year-over-year in 19 of the 30 largest markets tracked.
- Regional variations show strong year-over-year HPI growth in markets like Cincinnati (+8.4 percent) and St. Louis (+2.4 percent), contrasting with declines in areas such as Oakland, Calif. (-7.4 percent) and Tampa, Fla. (-5.9 percent).
- In the Atlanta-Sandy Springs-Alpharetta metro area, the HPI saw a 0.5 percent year-over-year increase, with the luxury tier rising by 0.9 percent while starter and mid-tiers decreased by 0.6 percent.
- First American Data & Analytics released its September 2025 Home Price Index (HPI) report, indicating national house prices are 0.7 percent below their May peak.
- The National Non-Seasonally Adjusted HPI showed a month-over-month decrease of 0.1 percent from August to September 2025, but a year-over-year increase of 1.1 percent from September 2024 to September 2025.
- Annual house price appreciation has slowed for 10 consecutive months, with year-over-year declines in 19 of the 30 largest markets tracked in September.
- Regional differences are significant, with strong year-over-year HPI growth in markets such as Cincinnati (+8.4 percent) and St. Louis (+2.4 percent), while prices recalibrated in areas like Phoenix (-4.5 percent) and Tampa, Fla. (-5.9 percent).
- The national Home Price Index (HPI) showed a +1.1 percent year-over-year increase in September 2025, but is 0.7 percent below its peak in May, marking 10 consecutive months of slowing annual price appreciation.
- The Dallas-Plano-Irving market experienced a -1.4 percent year-over-year decrease in HPI for September 2025, with specific tiers showing -1.1% for starter, -3.1% for mid-tier, and +0.6% for luxury.
- Regional differences are significant, with prices declining year over year in 19 of the 30 largest markets; however, some areas like Cincinnati (+8.4 percent) and St. Louis (+2.4 percent) saw strong growth, while Phoenix (-4.5 percent) and Tampa (-5.9 percent) continued to recalibrate.
- First American Data & Analytics reported that home prices in the New York-Jersey City-White Plains market increased by 5.1% year-over-year in September 2025.
- Nationally, the Home Price Index (HPI) showed a 1.1% year-over-year increase for September 2025, but house prices are 0.7% below their peak in May.
- The housing market has experienced 10 consecutive months of slowing annual price appreciation, reaching its slowest pace since 2012.
- House prices declined year over year in 19 of the 30 largest markets tracked in September 2025.
- In the New York-Jersey City-White Plains metro area, the luxury tier saw a significant 14.8% year-over-year increase in home prices.
- First American Financial reported Q2 2025 adjusted earnings per share of $1.53 and GAAP earnings of $1.41 per diluted share.
- The company's title segment revenue grew 13% to $1.7 billion, primarily driven by a 33% increase in commercial revenue to $234 million, which saw broad-based strength and a record fee per file.
- Investment income also increased 17%.
- Despite a 3% decline in purchase revenue due to a sluggish residential market, refinance revenue was up 54%.
- The Board of Directors approved a new $300 million share repurchase authorization in July, following the repurchase of 1 million shares for $61 million in Q2 2025.
- Leadership changes: New CEO Mark Seaton has replaced Kenneth DeGiorgio and CFO Matt Wajner has been appointed, while the Chairman transitions to Executive Chairman, signaling continuity in management and strategic direction.
- Financial performance highlights: GAAP earnings of $0.71 per share and adjusted earnings of $0.84 per share were reported, with Title segment revenue reaching $1.5 billion (up 12%) and Commercial revenue increasing 29%.
- Technology and operational initiatives: The company is advancing its automation efforts with successful SEQUOIA pilots and endpoint rollouts, aimed at reducing redundant technology costs and improving efficiency.
- 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 ).
- 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.