SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 18, 1998
THE FIRST AMERICAN FINANCIAL CORPORATION
(Exact Name of Registrant as Specified in Charter)
CALIFORNIA 0-3658 95-1068610
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
114 EAST FIFTH STREET, SANTA ANA, CALIFORNIA 92701-4642
(Address of Principal Executive Offices) (Zip Code)
(714) 558-3211
(Registrant's telephone number, including area code)
NOT APPLICABLE
(Former Name or Former Address, if Changed Since Last Report)
<PAGE>
ITEM 5. OTHER EVENTS.
See the attached Exhibit.
ITEM 7. EXHIBITS.
99 Press Release of The First American Financial Corporation dated March
18, 1998.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.
THE FIRST AMERICAN FINANCIAL CORPORATION
(Registrant)
Date: March 18, 1998 By: /S/ THOMAS A. KLEMENS
---------------------
Name: Thomas A. Klemens
Title: Executive Vice President
and Chief Financial Officer
EXHIBIT 99
Contact: Thomas A. Klemens
Executive Vice President
800-854-3643, ext. 7442
FIRST AMERICAN FINANCIAL TO ACQUIRE CONTOUR SOFTWARE,
THE LARGEST MORTGAGE LOAN INDUSTRY SOFTWARE SUPPLIER
SANTA ANA, CALIFORNIA, MARCH 18, 1998 - The First American Financial Corporation
(NYSE:FAF) announced today a definitive agreement to acquire California-based
Contour Software, the largest supplier of mortgage origination software and
services to the mortgage loan industry.
Contour Software provides leading edge, technological solutions to the mortgage
lending industry. Contour's practical and efficient software makes the
origination process easier and faster for customers such as mortgage brokers,
mortgage lenders, credit unions, commercial banks and savings institutions.
Contour will become a wholly owned subsidiary of First American Real Estate
Information Services, Inc. Terms of the agreement were not disclosed.
"The acquisition of Contour will significantly benefit our customers and enhance
the electronic delivery of our products and services," said President Parker S.
Kennedy. "Mortgage brokers generate over 50 percent of first mortgages and
Contour provides products and services to over 30 percent of the broker market."
"We sought a platform for delivering our origination-related products, such as
appraisal, mortgage credit, flood certification and title insurance, to the
mortgage broker community," Kennedy continued. "Contour represents the very best
platform available. This acquisition is yet another step toward our goal of
becoming the only fully integrated, and the most efficient and innovative, real
estate information services provider."
First American Real Estate Information Services' President John Long said,
"Contour Software is the premier provider of Windows-based mortgage loan
origination technology. Contour will provide us with tremendous opportunities to
expand our services to the mortgage broker industry and to strengthen our
customer base while providing increased efficiency and a streamlined origination
process."
"With the backing of the mortgage industry's leading provider of information
services, Contour's customers will benefit from the integration and enhancement
of mortgage specific software and services," said Scott Cooley, Contour Software
president and CEO. "Our clients will now have direct access, right from their
lap or desk tops, to First American's complete array of products and services.
Lenders using Contour Software are the big winners."
Founded in 1982, Contour Software offers software products for the mortgage
lending industry. The company's flagship product, The Mortgage Banking Series,
is a complete line of software products for every facet of mortgage lending,
from qualification to servicing. With approximately 7,000 customers, Contour is
a technology leader with the most complete line of software products and the
most electronic commerce connections in the industry. Based in Campbell,
California, Contour is a privately held corporation with 100 employees and 25
sales representatives across the nation.
The First American Financial Corporation, based in Santa Ana, California, is the
nation's leading provider of real estate-related financial and information
services. The corporation's subsidiaries include First American Title Insurance
Company, a national and international title insurer; First American Real Estate
Information Services, Inc., which offers tax monitoring, credit reporting,
property data services, flood certification, field inspection services,
appraisal services, mortgage loan servicing systems and mortgage document
preparation; First American Home Buyers Protection Corporation, a home warranty
company; and First American Capital Management, an investment advisory firm. The
Corporation also operates First American Trust Company and First Security Thrift
Company in Southern California. First American Financial has more than 13,000
employees in over 400 branch offices in the United States and abroad.
Information about the company's subsidiaries and a press release archive are
available at http://www.firstam.com.
# # #
