Fidelity National Financial, Inc. Closes on Lender's Service, Inc. Acquisition
February 11, 2003
IRVINE, Calif., /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF - News), a national provider of title insurance and real estate related products and services,announced the closing of its acquisition of Lender's Service, Inc. ("LSI"), a leading provider of appraisal, title and closing services to residential mortgage originators. FNF previously announced the signing of the definitive acquisition agreement on January 21, 2003.
Fidelity National Financial, Inc., a Fortune 500 company, is the nation's largest title insurance and diversified real estate related services company. FNF had total revenue of $5.1 billion and earned more than $530 million in 2002, with cash flow from operations of nearly $815 million. The Company's title insurance underwriters - Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title -- together issue approximately 30 percent of all title insurance policies nationally. The Company provides title insurance in 49 states, the District of Columbia, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and Canada. In addition, FNF performs other real estate-related services such as escrow, default management and exchange intermediary services, and homeowners, flood and home warranty insurance.
Source: Fidelity National Financial, Inc.