JACKSONVILLE, Fla. – Fidelity National Information Services, a conglomeration of back-office service providers, yesterday said it had completed the spin off of its vast mortgage processing operations into a separately traded company, called Lender Processing Services, Inc.
Officials with the new company celebrated by ringing the bell at the New York Stock Exchange, where the company’s shares will be traded under the symbol LPS.
About half of all U.S. mortgages are serviced using LPS' Mortgage Servicing Package.
Fidelity National Information itself was spun off from Fidelity National Title last year. Fidelity National Information is the product of as many as a dozen smaller service providers for credit unions and banks, including Certegy, Aurum Technology and InterCept.
