First American CoreLogic Releases April 2008 LoanPerformance House Price Index

-Thirty-Three States Show Decline in Past 12 Months-

SANTA ANA, Calif., July 2 /PRNewswire-FirstCall/ -- First American CoreLogic, a member of The First American Corporation family of companies and a leader in residential mortgage data and analytics for the mortgage industry and Wall Street, today announced the release of its April 2008 LoanPerformance Home Price Index (HPI).

The LoanPerformance HPI provides a comprehensive set of monthly home price indices and median sales prices covering 7,529 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 672 counties located in all 50 states and the District of Columbia. The indices, which are the most comprehensive available in the industry, are reported to clients five weeks after each full month ends. (For a state-by-state maps, visit http://www.loanperformance.com/assets/images/pr0608_3mo_lg.jpg (3-month map) and http://www.loanperformance.com/assets/images/pr0608_12mo_lg.jpg (12-month map).

"Home price declines accelerated in two-thirds of the states already experiencing price declines, while appreciation rates are decelerating in the handful of states with positive appreciation, particularly in Idaho, Utah and Hawaii. Ohio and Minnesota have separated from other Midwestern states and are declining at the fastest rates within the Midwest," said Mark Fleming, chief economist for First American CoreLogic. "Energy-rich sector states are experiencing the fastest price increases. West Virginia is leading the nation in home price appreciation, followed by Montana, Utah and Texas," added Fleming.

  12-Month Change by Top CBSAs                              12 Mo.
  (Core Based Statistical Areas) as of April 2008           Change
  Riverside-San Bernardino-Ontario  CA                     -24.59%
  Los Angeles-Long Beach-Glendale  CA                      -23.75%
  Cape Coral-Fort Myers  FL                                -22.87%
  Oakland-Fremont-Hayward  CA                              -22.29%
  Las Vegas-Paradise  NV                                   -21.01%
  San Diego-Carlsbad-San Marcos  CA                        -20.54%
  Fort Lauderdale-Pompano Beach-Deerfield Beach FL         -19.70%
  Phoenix-Mesa-Scottsdale  AZ                              -19.26%
  Miami-Miami Beach-Kendall  FL                            -18.82%
  Orlando-Kissimmee  FL                                    -17.71%
  Tampa-St. Petersburg-Clearwater  FL                      -15.53%
  Washington-Arlington-Alexandria  DC-VA-MD-WV             -13.22%
  San Francisco-San Mateo-Redwood City  CA                 -12.91%
  Cleveland-Elyria-Mentor  OH                              -12.73%
  St. Louis  MO-IL                                         -10.22%
  Boston-Quincy  MA                                         -9.56%
  Minneapolis-St. Paul-Bloomington  MN-WI                   -9.43%
  Atlanta-Sandy Springs-Marietta  GA                        -7.65%
  Edison-New Brunswick  NJ                                  -6.94%
  Chicago-Naperville-Joliet  IL                             -6.75%
  New York-White Plains-Wayne  NY-NJ                        -6.43%
  Denver-Aurora  CO                                         -5.75%
  Seattle-Bellevue-Everett  WA                              -4.49%
  Portland-Vancouver-Beaverton  OR-WA                       -4.34%
  Detroit-Livonia-Dearborn  MI                              -4.00%
  Philadelphia  PA                                          -2.37%
  Raleigh-Cary  NC                                          -0.49%
  Charlotte-Gastonia-Concord  NC-SC                         -0.31%
  San Antonio  TX                                            3.09%
  Dallas-Plano-Irving  TX                                    3.28%
  Salt Lake City  UT                                         3.64%
  Houston-Sugar Land-Baytown  TX                             4.06%
  Austin-Round Rock  TX                                      6.14%
  Honolulu  HI                                               7.15%

Source: First American CoreLogic, LoanPerformance HPI, Single Family Detached Series as of April 2008

"On a year-ago basis, four of the top six large CBSAs for home price appreciation are in Texas. Although declines are occurring in a majority of the states, over two-thirds of all 958 CBSAs are experiencing nominal increases. Among large CBSAs, St. Louis, Miami and Los Angeles have suffered the largest acceleration in home price declines so far this year."

In addition, updated LoanPerformance HPI data through mid-May 2008 is also available, providing clients with an early snapshot of trends with only a three-week lag period. Full-month April and through mid-month May 2008 state and top CBSA-level data can be found at http://www.loanperformance.com/products/hpi.aspx.

The LoanPerformance HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 45 million observations sourced from First American CoreLogic's industry-leading property information database. LoanPerformance HPI provides a multi-tier market evaluation based on price, time between sales, property type and loan type (conforming vs. nonconforming). With LoanPerformance HPI, users can monitor real estate trends by market, identify at-risk markets as they unfold, selectively evaluate markets by tier and fine tune investment strategies. LoanPerformance HPI is delivered through the TrueStandings(R) Web-based business intelligence platform, which provides instant access to real estate price trends in all of the key local markets in the United States. Data can be sorted by time period, state, county, CBSA and ZIP code.