Reaves Takes Helm at First American Default Unit

First American Default Management Solutions, a member of the First American Corp. family of companies, has named Caroline Reaves as president of its National

Default Outsourcing Co.

Ms. Reaves has extensive legal and mortgage servicing experience, including more than a decade of service at Midland Mortgage Co./MidFirst Bank in Oklahoma City. Her most recent position at the firm was vice president of default management, a post she had held since 1997.

"The extensive experience and proven leadership that Caroline brings to First American will ensure the continued growth of our default outsourcing solutions to mortgage servicers across the nation," said Jay Frappier, president of First American Default Management Solutions.

Ms. Reaves will be relocating to Dallas for the new position.

First American National Default Outsourcing works to reduce the cost of servicing by providing default-related services such as foreclosure and bankruptcy packaging, imaging, filing, document retrieval, mail processing, system updates, invoice processing and claims processing services for its customers.

With revenue of $6.21 billion in 2003, parent First American Corp. employs 29,000 people in approximately 1,800 offices throughout the U.S. and abroad.

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