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First Advantage SafeRent Releases Fourth Quarter 2007 Multifamily Applicant Risk Index


WEBWIRE

ROCKVILLE, Md., Feb. 20, 2008óFirst Advantage SafeRent, Inc., a wholly owned subsidiary of First Advantage Corporation (NASDAQ: FADV) and the nationís leading and most innovative provider of screening and risk management services for the multifamily industry, today announced the release of fourth quarter 2007 multifamily applicant risk statistics.

The Multifamily Applicant Risk Index (MAR Index) is based on traffic quality scores from First Advantage SafeRentís statistical screening model and is updated quarterly to provide property owners and managers with a benchmark with which to compare their portfolioís performance. With this unique applicant risk index, property managers and owners are able to compare their applicant quality trends with that of the average MAR Index trends. This comparison indicates whether their portfolio is performing above, below or at market levels with respect to attracting and securing high quality, paying residents.

The fourth quarter national MAR Index, including studios, one-, two-, three- and four-bedroom units (BR), was 99. This is a 1 percent decrease from the first quarter, which confirms a trend of seeing lower MAR Index values during the slow applicant traffic volume periods of the first and fourth quarters. The MAR Index is down 4 points from the third quarter 2007 value of 103, indicating a riskier applicant pool for this quarter. Compared to the fourth quarter 2006, the MAR Index is the same value of 99. When comparing applicants for one- versus two-bedroom units, the MAR Index for both type of applicants was 100 in the fourth quarter (click Related Link below to view/download Graph 1).

Regionally, the West has the highest MAR Index with a value of 105 while the Midwest continues to have the lowest MAR Index with a value of 94 this quarter (click Related Link below to view/download Table 1).

From a Metropolitan Statistical Area (MSA) perspective, the three MSAs with the leading decreases in the MAR Index were Minneapolis/St. Paul, MN-WI; Denver/Boulder/Greeley, CO; and Memphis, TN-AR-MS with decreases of 4, 6 and 6 points respectively. The three MSAs with the leading increases in the MAR Index were Nashville, TN; San Antonio, TX; and West Palm Beach/Boca Raton, FL with increases of 4, 4 and 3 points respectively (click related link below to view/download Table 2).

Understanding the Multifamily Applicant Risk Index (MAR Index)
The Multifamily Applicant Risk Index (MAR Index) is published quarterly by First Advantage SafeRent. It provides trends of national and regional traffic quality scores whereby a lower index value indicates an applicant pool with a higher risk of not fulfilling lease obligations. A MAR Index value of 100 indicates that market conditions are equal to the national mean for the indexís base period of 2004. A MAR Index value greater than 100 indicates market conditions with reduced average risk of default relative to the indexís base period mean. A value less than 100 indicates market conditions with increased average risk of default relative to the indexís base period mean. The MAR Index is derived from First Advantage SafeRentís Statistical Screening Model Ė the multifamily industryís only screening model that is both empirically derived and statistically validated. First Advantage SafeRentís Statistical Screening Model was developed from historical resident lease performance data to specifically evaluate the potential risk of a residentís future lease performance. The model generates scores for each applicant indicating the relative risk of the applicant not fulfilling lease obligations. A lower score indicates a more risky applicant.

To receive the MAR Index data for your Metropolitan Statistical Area or for questions, contact First Advantage SafeRent at marketing@FADVSafeRent.com. Data is also available at the property and sub-market level from Property Performance Analytics. For more information visit www.FADVSafeRent.com/PPA.

About First Advantage
First Advantage SafeRent, a wholly-owned subsidiary of First Advantage Corporation, is the nationís leading and most innovative provider of screening and risk management services to the multifamily housing industry. Through its offices in Rockville, Md., and more than 40 support offices nationwide, First Advantage SafeRent offers a single source for resident screening services, property performance evaluation tools, renters insurance and employment screening. More than 39,000 properties rely on First Advantage SafeRent every day to help them attain the highest quality residents and maximize profitability. First Advantage SafeRent leads the industry in innovations and enhancements designed to make the decision process faster, easier and more accurate. For more information, visit www.FADVSafeRent.com.

First Advantage Corporation (NASDAQ: FADV) provides innovative products and services that mitigate risk by helping businesses, non-profit organizations and government agencies make more informed decisions. Headquartered in Poway, Calif., the company has 4,700 employees in 10 countries that support over 90,000 clients globally. More information about First Advantage is available at www.FADV.com.

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 Tenant screening model
 Tenant screening
 Multifamily risk index
 Multifamily applicant
 Renter screening


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