Fidelity National Title Group Announces Strategic Partnership With NextAce to Produce Title Reports in As Little as One Hour

May 10, 2006

JACKSONVILLE, Fla., /PRNewswire-FirstCall/ -- Fidelity National Title Group, Inc. (NYSE: FNT), today announced a strategic partnership with automated title software and service provider NextAce(SM) to significantly improve delivery speed of title reports.

With NextAce's Title EDGE(SM) "software as a service" (SaaS) offering, FNT's five leading title insurance underwriters -- Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title -- will be able to reduce the time to deliver a title report from approximately 48 hours to as little as one hour.

"By automating the title process, Title EDGE offers a powerful technology solution that will significantly enhance our ability to create new levels of speed and efficiency in the title process," said Randy Quirk, FNT's Chief Executive Officer.

Title insurance protects lenders and anyone purchasing or refinancing property against any known or unknown title defects. Lenders need quick, efficient searches of property titles provided through a preliminary title report or commitment to reach loan decisions. Through software automation and smart market partnerships with lenders, escrow companies and title branches, NextAce is able to reduce the production time and cost associated with preliminary title reports and commitments by eliminating hours of manual labor and reducing overhead costs for every order processed through Title EDGE. As a result, the closing process becomes faster, simpler and more cost-efficient.

"We are honored to be a strategic partner with the industry's largest title insurance company," said NextAce CEO Don Cantral. "With Title EDGE, Fidelity National Title Group and its customers are assured improved order turn times, lower costs and greater accuracy. Fidelity National Title Group's adoption of this software service is a strong indicator of the significant impact automation is having on the title industry."

Source: Fidelity National Title Group, Inc.


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.