Fidelity National Financial Division Enhances Bank-Owned Properties Marketing Solution
February 11 2005 - 4:15PM
PR Newswire (US)
Fidelity National Financial Division Enhances Bank-Owned Properties
Marketing Solution JACKSONVILLE, Fla., Feb. 11
/PRNewswire-FirstCall/ -- 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 it has enhanced BuyBankHomes.com, its popular
Web portal dedicated to marketing properties that have completed
the foreclosure process. The site is a valuable tool that helps
lenders manage and rapidly liquidate their properties acquired
through foreclosure sale. BuyBankHomes.com provides a neutral
online community for sellers and buyers of properties acquired
through foreclosure. This site offers a customized user experience
for real estate brokers and agents, buyers, sellers and investors.
Brokers and agents utilize this portal to list properties and
monitor other bank-owned properties in specific geographic areas.
Using this solution, buyers and investors are able to view over
41,000 bank-owned listings, transmit offers to lenders and order
ancillary products, such as valuations and other collateral
services. BuyBankHomes.com recently surpassed 110,000 registered
buyers on the system. The site has also exceeded 16,000 registered
investors and 13,600 registered brokers and agents.
BuyBankHomes.com continues to increase the value to sellers of
bank-owned properties, consumers and real estate professionals. As
the number of registered users continues to increase,
BuyBankHomes.com remains focused on implementing system upgrades
that enhance the user experience. The most recent enhancements have
focused on lead tracking, reporting capabilities and broker
searches. New lead tracking enhancements include the addition of a
rules-based engine that sorts and e-mails buyer and investor leads
to the appropriate registered broker or agent. The system also
tracks leads and enables brokers and agents to view the status of
their assigned leads. Newly added reporting capabilities enable
financial institutions to obtain information on their listed
properties. This information includes the number of times a
property has been displayed or e-mailed to an interested party,
enabling financial institutions to track the number of consumers
exposed to specific properties. In addition, the system now offers
brokers a search feature that enables them to locate properties
that have not been distributed to other brokers or agents. This
search feature will assist with broker recruitment in areas where
properties are not currently being represented. "We are extremely
delighted with the growth of buyers and sellers we have seen on our
Web site in such a short period of time," said Bradlee Marick,
Senior Vice President Business Technology and CTO for
BuyBankHomes.com. "Our goal is to ensure that all our users have
easy-to-use tools at their fingertips so they can take full
advantage of the Internet when buying and selling bank-owned
properties," added Marick. 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 had total
revenue of more than $6.2 billion and earned more than $560 million
for the first nine months of 2004, with cash flow from operations
of more than $925 million for that same period. FNF is the nation's
largest title insurance company, with more than 30 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 3,600
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 http://www.fnf.com/ and
http://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. DATASOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and
Investor Relations, +1-904-854-8120, or , or Darcy Patch, Senior
Vice President of Marketing, Office of the Enterprise,
+1-949-477-1173, or , both of Fidelity National Financial, Inc. Web
site: http://www.fnf.com/ http://www.fidelityinfoservices.com/
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