Fidelity National to Spin Off Huge Lender Processing Unit

Published March 30, 2008, 4:42 p.m. EDT

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Updated August 27, 2020, 1:19 a.m. EDT

1 Min Read

JACKSONVILLE, Fla. – Fidelity National Information Services, the product of financial reengineering, announced plans to spin off its lender processing operations as a separately traded company.

Processing Content

The new company, to be called Lender Processing Services Inc., handles more than half of all mortgage loans in the U.S. and generated revenue of $455 million last year.

Fidelity National itself is the product on an unusual conglomeration and spin off. The company was originally part of Fidelity National Title and added through acquisition eight separate back-office loan and transaction processing companies, including Certegy Inc., Aurum Technologies,ALLTEL Information Services, VISTA Information Solutions, Sanchez Computer Associates and InterCept.. Then last year, the company spun off the title insurance business into a separate business.

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