Irwin Mortgage Corporation Signs Letter of Intent for Fidelity's Mortgage Servicing Platform
March 29 2005 - 9:45AM
PR Newswire (US)
Irwin Mortgage Corporation Signs Letter of Intent for Fidelity's
Mortgage Servicing Platform JACKSONVILLE, Fla., March 29
/PRNewswire-FirstCall/ -- Fidelity Information Services
("Fidelity"), a division of Fidelity National Financial, Inc.
(NYSE:FNF), announced that Irwin Mortgage Corporation has signed a
letter of intent to service its mortgage portfolio of more than
225,000 loans on Fidelity's Mortgage Servicing Package ("MSP").
Irwin Mortgage signed the letter of intent after an extensive
search because of MSP's steady, solid reputation and Fidelity's
proven commitment to providing superior customer service and
support. "Fidelity's MSP servicing system will enhance Irwin
Mortgage's employee productivity while providing additional revenue
opportunities," according to Duncan Chiu, senior vice president of
loan administration at Irwin Mortgage. "Fidelity has an excellent
reputation in the industry for smooth, efficient, on-time
conversions." MSP, the leading mortgage servicing software, is
designed to enable Irwin Mortgage to automate all areas of its loan
servicing, including loan setup and maintenance, customer service,
cashiering, escrow administration, investor accounting, default
management and federal regulatory reporting. More than 50 percent
of mortgage lenders use MSP to service their mortgages, as this
servicing solution helps reduce overall servicing costs and helps
promote increased productivity. Upon the completion of the
contract, Irwin Mortgage will work with Fidelity to create a plan
for converting its loans from another company's servicing software
solutions to Fidelity's comprehensive MSP. "Fidelity looks forward
to partnering with Irwin Mortgage to convert its loans to MSP and
create a foundation for a strong relationship in coming years,"
said Hugh Harris, president of Fidelity Information Services'
Financial Services Technology division. "Irwin Mortgage has an
excellent reputation in the industry as a very well-managed
company. We look forward to a long and successful partnership."
Irwin Mortgage Corporation is a national mortgage lender and loan
servicer, focusing on serving customers who require expertise and
specialized services in financing or refinancing their homes.
Headquartered in Indianapolis, Indiana, Irwin Mortgage is a
subsidiary of Irwin Financial Corporation (NYSE:IFC). 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 is the
nation's largest title insurance company, with nearly 32 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 2,800
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, Fidelity National Financial, Inc.,
+1-904-854-8120, or , or Michelle Kersch, Senior Vice President,
Corporate Communications, Fidelity Information Services, Inc,
+1-904-854-5043, or Web site: http://www.fnf.com/
http://www.fidelityinfoservices.com/
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