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Company:
Fidelity National Financial
Services:
In real estate information services, we are focused on taking market share from competitors. In the mortgage financial strategy data products, we have seen the early benefit of the customer synergy between FIS and this business. Our goal for the mortgage data products is to grow our market share in flood, tax, credit, appraisal and valuation equal to our roughly 30% national title market share. We believe a combination of organic growth through winning new contracts and opportunistic revenue rollups of smaller mortgage data product companies will allow us to reach that medium-term goal. RESPA reform could accelerate those acquisition opportunities, as we believe it will become increasingly difficult for the small, niche mortgage data companies in flood, tax and credit to compete in a marketplace that will benefit the larger companies like FNF that can provide a complete bundled closing package at a fixed price.
At the most broad level, our operational strategy is to leverage our market leadership, customer relationships and processing expertise in the title and escrow industry to significantly broaden both the outsourcing and processing opportunities with financial institutions and the real estate industry. Financially, this will allow us to grow the non-title related revenue and earnings streams to provide a more balanced financial profile with significant contributions from our core title insurance business, real estate information services and outsourced processing solutions for financial institutions and the real estate industry.
Our specific goal is to have 50% of our revenue and earnings from non-title sources by the end of 2006. If we are successful, we will transform the way that the investment community perceives and values our company. We realize that these are aggressive growth and diversification goals, but we are confident that we have the management leadership, operational talent and financial resources to reach those goals.
Contact Details:
Fidelity National Financial
601 Riverside Avenue
Jacksonville, FL 32204
T: (888) 934-3354
W:
http://www.fnf.com
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