Fidelity National Financial's LSI Launches Point-of-Sale Title Insurance Platform for the Home Equity Market
October 15, 2004
JACKSONVILLE, Fla., LSI, a subsidiary of Fidelity National Financial, Inc. (NYSE: FNF),has successfully launched the home equity component of its nationally recognized eLenderSolutions (eLS) point-of-sale, web-based title insurance platform. Designed to expedite home equity closings, the system leverages high-quality data, industry leading technology and LSI's recently developed Home Equity Loan Policy (HELP) to provide lenders with loan closing, ancillary product and insurance offerings needed for same-day home equity closings.
This premier point-of-sale tool instantaneously delivers recordable property vesting information, tax and assessment information and legal descriptions nationally. Additionally, the system provides point-of-sale quotes on an individual product or bundled fee basis for the HELP policy, property reports, credit reports, flood certification, valuation products, mortgage tax and recording services. An instant messaging feature is also included to facilitate real-time communication among participants. The platform returns all products electronically and further expedites the closing process with immediate mortgage document delivery, allowing borrowers to sign their documents before they leave the lender's office.
"With the home equity lending environment moving at such a rapid speed, there's a tremendous need for technology solutions to keep pace," said LSI President Ron Frazier. "When listening to our customers, we recognized the need to develop the technology to provide information and products to lenders at the point-of-sale. We have focused our efforts in this area as part of a long-term plan to develop a complete home equity technology platform. The home equity component of eLS is the most recent addition to our comprehensive solution and we're confident our clients will gain a competitive edge by using our system," said Frazier.
"When developing new products and services, the litmus test is to ensure that they support our customers' business objectives and help position them for continued success," said LSI SVP of Strategy and Execution Al Verkuylen. "According to our customers, we've hit our mark with these new offerings. Instead of waiting days to receive critical vesting data and legal descriptions, lenders now receive this information in just seconds, resulting in a much quicker closing process and better borrower experience," said Verkuylen.
The home equity component is one of the many lender solutions available on the eLS fulfillment platform, through which users can access all the products and services offered by LSI and other FNF affiliates. Additional components include an interactive title curative platform; an automated title decisioning system; and a Web-based loan signing platform.
SOURCE Fidelity National Financial, Inc.
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