First American plunges in slump
From Times Wire Reports
First American Corp. said third-quarter profit fell 48% as demand for new mortgages fell amid the worst U.S. housing slump in 16 years.
Net income was $46.6 million, or 49 cents a share, compared with $90.4 million, or 92 cents, a year earlier, the Santa Ana-based title insurer said.
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