Fidelity National Financial today announced an integration of technologies that will automate the ordering, tracking and delivery of products and services for the mortgage origination and default markets.
The electronic ordering and tracking technologies are expected to provide lenders and servicers increased efficiencies, reduced cost and improved performance of third-party providers, company officials said, referring to this pairing of products as “the first and most complete electronic mortgage lifecycle solution of its kind.”
The consolidation features RealEC Exchange, an online ordering and delivery system for real estate-related products and services, and NewWay Suite modules, which provide vendor management services, regulatory driven product ordering and billing guidelines, electronic order placement, results and invoice reconciliation.
“We are committed to helping our customers enhance efficiencies,” said Jason Nadeau, president and CIO of RealEC. “With the seamless integration of our Exchange and Fidelity’s NewWay Suite modules, we will be able to offer customers an enhanced solution that incorporates default services ordering and the time-saving convenience of electronic invoice management.”
RealEC Technologies is a majority-owned subsidiary of Fidelity National Financial, with significant equity ownership by Stewart Title Co. and LandAmerica Financial Group.
Fidelity National Financial Inc., a Fortune 500 company, is a provider of products and outsourced services and solutions to financial institutions and the real estate industry. The company had total revenue of more than $7.7 billion and earned more than $860 million in 2003, with cash flow from operations of nearly $1.3 billion for that same period. FNF is a leading provider of information-based technology solutions and processing services to financial institutions and the mortgage and financial services industries through its subsidiary Fidelity Information Services Inc.
Fidelity Information Services’ software processes nearly 50 percent of all U. S. residential mortgages. It has processing and technology relationships with 45 of the top 50 U. S. banks and has clients in more than 50 countries who rely on its processing and outsourcing products and services. FNF is the nation’s largest title insurance company and also provides other real estate-related services.
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