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January 10, 2002

Fidelity Consolidates, Standardizes Some Title Operations


Inman News Features

Fidelity National Financial, a provider of title insurance and real estate-related products and services, announced it has launched a new company to consolidate and standardize many of its nationwide network functions.

Fidelity National said the new company, Santa Barbara, Calif.-based Property Insight, will combine operations from Fidelity Title, Chicago Title, Ticor Title and Security Union. Property Insight will operate in seven states, including California, Florida, Illinois and Michigan, and serve the regional operations of most every major U.S. title underwriter, according to the company.

Products include title plant indexes, property tax information, map images and publicly recorded land records, judgments and starter policies.

"By combining our title plant operations into a single stand-alone company, we are focusing our energy on expanding our geographic coverage to become the leading provider of automated information services to the title insurance industry," said Fidelity National CEO Patrick F. Stone.

"At the same time, we will improve the return on investments we make in information technology, strengthening our business and financial performance by leveraging our spending across more markets," Stone said.

Stone said developing a national information service that automates information research and delivery of information needed to examine and underwrite title insurance will position Property Insight to enable its customers to lower manual research costs, improve turnaround time and consolidate operations to regional and national processing centers.

Copyright: Inman News Service



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