First American Financial, a global provider of title insurance, settlement services and risk solutions for real estate transactions, announced its financial results for the second quarter and first half of 2014. Total revenue was down 11 percent compared to 2013, partly due to a 57 percent drop in refinance volume. This did stabilize in the first quarter and slightly increased in the second quarter.
Net income in the current quarter (second quarter) was $50.6 million, or 47 cents per diluted share, compared with net income of $34.7 million, or 31 cents per diluted share, in the second quarter of 2013.