Fidelity National Financial Division Introduces Solution for Bank-Owned Property Offer Management
March 23, 2005
Jacksonville, Florida -- (March 23, 2005) - Fidelity National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products, services and technology solutions to the financial and real estate industries, today announced that its Fidelity National Asset Management Solutions ("FNAMS") division has launched its Offer Management System, an online tool designed to automate the company's bank-owned property offer negotiations directly through www.fnams.com.
With the addition of the offer management capabilities to the FNAMS' web site, brokers and agents will have the ability to initiate new offers and counter or respond to counter offers online. All offer and negotiation information entered into the Offer Management System will automatically populate into FNAMS' case management system, providing property owners with real-time access to the status of property negotiations and expediting the entire negotiation process.
For brokers and agents, the Offer Management System is designed to replace the manual e-mail and faxing of offers and negotiations. The system can also automatically notify brokers and agents when FNAMS has responded to an offer. Additionally, brokers and agents negotiating through this system can easily withdraw an offer at any point in the process.
In addition to providing its own proprietary Offer Management System, FNAMS will continue to support all offers received through its offer management partner, REO.com.
"Fidelity's new offer management solution is an invaluable tool in today's REO sales process," said Mike Weaster, Century-21 Excel Real Estate Agent. "For us, this new system expedites the entire process, nearly cutting our negotiation time in half," said Weaster.
"Fidelity's online offer management system with automatic notification capabilities enables us to stay completely up-to-date with the status of our REO negotiations," said Blake Mayes, Broker/Owner for RE/Max Capital City. "This communication enhancement reduces delays and ultimately, transaction cycle timelines," said Mayes.
"We are delighted to be providing an online offer management solution to replace time consuming manual processes," said Chad Neel, President of Fidelity National Asset Management Solutions, a division of Fidelity National Financial. "We are confident this offering will facilitate a more efficient and effective offer negotiation process for all involved parties," added Neel.
About Fidelity National Financial
Fidelity National Financial, Inc., number 262 on the Fortune 500, is a provider of products and outsourced services and solutions to financial institutions and the real estate industry. FNF is the nation's largest title insurance company, with nearly 32 percent national market share, and is also a provider of other specialty insurance products, including flood insurance, homeowners insurance and home warranty insurance. Through its subsidiary Fidelity National Information Services, Inc. ("FIS"), the Company is a leading provider of technology solutions, processing services and information services to the financial services and real estate industries. FIS' 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 more than 2,800 small and mid-sized U.S. financial institutions and it has clients in more than 50 countries who rely on its processing and outsourcing products and services. FIS also provides customized business process outsourcing related to aspects of the origination and management of mortgage loans to national lenders and servicers. FIS offers information services, including property data and real estate-related services that are used by lenders, mortgage investors and real estate professionals to complete residential real estate transactions throughout the U.S. More information about the FNF family of companies can be found at www.fnf.com and www.fidelityinfoservices.com.
This press release contains statements related to future events and expectations and, as such, constitutes forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be different from those expressed or implied above. The Company expressly disclaims any duty to update or revise forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, the effect of governmental regulations, the economy, competition and other risks detailed from time to time in the "Management's Discussion and Analysis" section of the Company's Form 10-K and other reports and filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.