Fidelity National Financial, Thomas H. Lee, in Talks to Acquire Lender Processing Services
Title insurer Fidelity National Financial Inc. FNF -4.43% and buyout shop Thomas H. Lee Partners are in advanced talks to acquire Lender Processing Services Inc. LPS -3.16% for about $2.9 billion, according to people familiar with the matter.
The deal would bring Lender Processing Services, which provides services to mortgage lenders, back under the umbrella of Fidelity National Financial, its one-time parent.
Under the terms being discussed, the buyers would pay with a mix of cash and Fidelity National Financial stock, these people said. The deal would value Lender Processing Services shares around $33, some of the people said.
Lender Processing Services shares closed down 3.2%, or about 95 cents, to $29.11 on Wednesday. The stock is up about 21% on the year, with most of the climb coming in the last month. Fidelity National Financial has a market capitalization of about $5.6 billion, while Lender Processing Services is worth about $2.5 billion.
A deal could be announced as soon as early next week, they said.
And Fidelity’s history from a post done in February 2010…
WRITTEN IN WEASEL, SO GET OUT YOUR DICTIONARY OF WEASELEASE – FNF, FIS, DOCX, LPS
Note – read at the bottom of this post for “some weasel name dropping” the real rats, that many of you will recognize some of these vermin from your own experiences of infestation..
“FNF”-Fidelity National Financial, Inc.
“FIS”-Fidelity National Information Services, Inc.
“LPS” Lender Processing Services, Inc.
The Evolution of Infestation
Western Title Insurance Company (now Fidelity National Title Insurance Company of California) traced its origin to C.V. Gillespie (founder), a notary public and searcher of records in San Francisco.
At the time of the San Francisco earthquake and fire, employees of Western Title Insurance Company and their wives were credited with saving the title plant and other valuable records of the company.
The original Western Title Insurance Company was formed.
Fidelity National Title Insurance Company (FNTIC), a Nebraska corporation, received a certificate of authority and began doing business in Nebraska.
FNTIC acquired the assets of a small underwriter in Tucson, Arizona. It was at this time that the Company’s current principals were first affiliated with FNTIC.
FNTIC, with agency operations in the Arizona counties of Maricopa and Pima, was purchased from CIGNA. FNTIC was ranked 48th in the country among title insurance companies with revenue of $6.2 million.
Corporate offices for FNTIC were moved from Denver, Colorado, to Scottsdale, Arizona.
Controlling interest of FNTIC was sold to Fidelity National Financial, Inc. (“Fidelity” or the “Company”), its present holding company. William P. Foley, II, became President and Chairman of the Board.
The Securities and Exchange Commission approved the sale of Fidelity’s stock to the employees of its various subsidiaries. Fidelity became the nation’s first and only employee-owned title insurance underwriter.
Fidelity began trading on the American Stock Exchange under the symbol FNF.
Fidelity Acquired Western Title Insurance Company.
Fidelity moved corporate headquarters from Scottsdale, Arizona, to Irvine, California.
Fidelity acquired Western Title in Portland, Oregon.
Fidelity purchased an El Paso-based title agency, which represented Fidelity’s first direct title operation within the state of Texas.
Fidelity established Premier Lenders, a concept unique to the title industry. All title work for lenders in the California counties of Los Angeles, Orange, Riverside, San Bernardino and San Diego is performed out of one regional office.
Fidelity began trading on the New York Stock Exchange under the symbol FNF.
Fidelity acquires Meridian Title Insurance Company, and Security Title and Guarantee Company, expanding Fidelity’s direct operations base to include Florida, Michigan, Missouri, New Jersey, New York, North Carolina, and Pennsylvania.
Fidelity completed its acquisition of Agency Sales and Posting, Arizona Sales and Posting, Inc. and Pente Enterprises, Inc.
Fidelity acquired ACS Systems, Inc., a computer software development company to enhance FNTIC’s electronic data interchange through the development and marketing of its trust, escrow and title related software.
Fidelity acquires Western Title Company of Washington, creating the opportunity to expand direct operations into Washington.
Fidelity acquires the accounts receivable and the book of business of World Title Company, formerly in conservatorship. Fidelity acquires 100% of the stock of World Tax Service… enhancing its market position in California.
ACS unveiled ExpressNet (now FlexNet), an integrated solution for electronic commerce between back office systems and external service providers, realtors and lenders.
Fidelity acquired Nations Title Inc, 8th largest title underwriter in the United States, made FNTIC the 4th largest title underwriter in the U.S. and doubled the existing agency base.
Fidelity acquired Alliance Home Warranty (now Fidelity Home Warranty)
Fidelity acquired CRM, now Fidelity Tax Service
FlexNet™, Fidelity National Lender Express Network, is established as the single source through one interface for bundled services to include title and escrow, tax, credit, flood, foreclosure appraisal, document and recording, and electronic commerce services.
Fidelity acquired First Title Corporation, a title company with offices throughout the southeastern United States.
Fidelity acquired three credit reporting companies Ifland Credit Services, Credit Reports, Inc., and Classified Credit Data, Inc. All three have been merged and operate as Fidelity National Credit Services, Inc.
Fidelity acquired Bron Research, Inc., a flood certification company headquartered in Austin, TX. which now operates as Fidelity National Flood, Inc.
Fidelity acquired Express Network, Inc., a provider of attorney services such as courier, messenger, courthouse filing, process serving, investigation and reprographics.
Fidelity acquired Granite Financial, Inc., an industry consolidator in the small-ticket lease financing market
Fidelity sold wholly-owned subsidiary ACS to Micro General, Inc. ACS provides software, systems integration and telecommunication services to small to medium size businesses in the real estate industry.
FNTIC merged with Alamo Title, the ninth largest title insurer in the United States. As a result FNTIC is now the second largest underwriter in Texas.
Fidelity formed RealEC.com, the first multiple title underwriter alliance for electronic commerce. Fidelity and Stewart Title are the founding and initial members. It is designed to be an open electronic commerce network to order and deliver essential real estate information services in the real estate transaction process.
FNF, through Micro General, sponsored and financed a new interest transaction intermediary company called Escrow.com.
FNF announces its plan to acquire Chicago Title Corp. and its title insurance subsidiaries – Chicago Title, Ticor Title and Security Union Title, thus creating the world’s largest title insurance organization.
FNF completes its acquisition of Chicago Title Corp., creating the largest title insurance organization in the world.
FNF moved into its new corporate headquarters in Santa Barbara, California.
FlexNet and Chicago Title’s CastleLink operation are merged to form Fidelity National Lender’s Solution – the single solution for mortgage products and services.
Fidelity National Information Solutions (FNIS) is formed, creating the premier services provider of real estate-related information and technical solutions.
FNF’s revenue climbs to $3.9 billion.
FNF is named a FORTUNE 500 company, listed on Fortune magazine’s “America’s Most Admired Companies” list and is also listed on the Forbes “Super 500” list. For the second consecutive year, FNF is on the Forbes “Platinum 400” list of companies.
Property Insight is launched to provide real estate property information services to all title companies, creating a nationwide capability to standardize and automate title research.
FNF acquires Lender’s Service, Inc. (LSI), a leading national provider of appraisal, title and closing services to residential mortgage originators.
FNF acquires the Financial Services division of ALLTEL Information Services, renamed Fidelity Information Services, and moves its headquarters to Jacksonville, Fla.
FNF reaches no. 262 on the FORTUNE 500 list and is selected by Forbes as America’s best-managed insurance company.
FNF acquires ANFI, Inc. and Key Title Insurance to strengthen the Ticor brand in the Western United States, particularly California, Arizona, Nevada and Oregon.
FNF acquires Mutual of Omaha’s flood insurance business.
FNF Canada is formed upon FNF’s acquisition of LandCanada Financial Services. FNF Canada provides Fidelity with an immediate and meaningful presence in the rapidly expanding Canadian title insurance market.
Fidelity acquires American Pioneer Title Insurance Company (APTIC). The acquisition boosts FNF to become the largest title insurer in Florida.
With the acquisition of Geotrac, FNF becomes the nation’s second largest provider of flood determination and life-of-loan monitoring services.
Fidelity National Real Estate Solutions implements a fully integrated suite of Web-based tools, including Fidelity’s BrokerOffice? and AgentOffice? systems, to enable real estate agents and brokers to take advantage of Internet-based leads and business opportunities.
Fidelity acquires ClearPar, LLC, a provider of technology and services that deliver primary and secondary commercial loan trade settlement services.
FNF’s total annual revenue climbs to more than $8.3 billion.
FNF acquires Service Link, the nation’s leading provider of centralized mortgage and residential real estate title and closing services for major financial institutions and institutional lenders.
Fidelity National Title Group, a division under which FNF’s title insurance businesses and ServiceLink are aligned, is established. Raymond R. (Randy) Quirk becomes CEO of Fidelity National Title Group after serving as President of FNF for three years.
Sedgwick CMS, an industry-leading provider of outsourced insurance claims management services to large corporate and public-sector entities, becomes a division of FNF.
FNTG launches Mihogaren California.com, a bilingual English and Spanish language website developed to educate Hispanic consumers on the process of buying a home. FNTG also introduces its Cultural Competency Program in California to train employees about how to better support multicultural customers.
FNTG introduces ProductCenter.FNTG.com, a central online resource available to employees and customers for information about title and excrow products, services, resources, news and training.
A division of FNF and Certegy merge to form Fidelity National Information Services (FIS)
FIS becomes a publicly traded company
FIS named to S&P 500
FNTG launches Title.com, a consumer-focused website designed to educate consumers and to simplify the process of purchasing, selling or refinancing a home.
FNF is named in the Forbes Global 2000, a list of the largest and most successful companies in the world. FNF joins the list at No. 1061, higher than any other title insurer.
FNTG’s five title insurance brands make available Spanish, Chinese, Korean and Vietnamese versions of their websites.
FIS launches Loan Portfolio Solutions division
FIS acquires Applied Financial Technology
FIS is ranked the #1 financial services provider in the world in the FinTech 100
FIS acquires McDash Analytics
Lender Processing Services is formed as an independent, publicly traded company, as a result of FIS’ spin off of its mortgage business segment of the same name.
FNRES becomes a division of LPS
2010 and beyond
To be continued…
“Some Weasel Name Droppings”
Many of you will recognize these vermin from your own experiences of infestation…
Litton Loan Service hires (outsources) Quality Loan Service to foreclose on homes in California.
Litton Loan Service problems:
Transfers title illegally as beneficiary … for example
Donna Dixon, employee at Litton signs as HSBC Bank
Marti Noriega, employee at Litton signs as VP of MERS
These documents are notarized and look very important and official.
But they are frauds,
LITTON WAS NEVER BENEFICIARY
MERS is more often than not assigned Beneficiary on “security instruments” and “common law trusts” masked as Deeds of Trust and Notes from the Lenders (Fremont in our case)
These documents are notarized and look very important and official.
Next, MERS hires Quality Loan Service, (aka McCarthy and Holthus, LLP)
McCarthy and Holthus are attorneys for HSBC Bank
McCarthy and Holthus are;
Thomas J. Holthus, Esq.
Thomas J. Holthus is the managing partner of the law firm McCarthy Holthus, LLP based in San Diego, California. McCarthy Holthus represents mortgage servicers and lenders in eight Western states. Mr. Holthus has represented financial institutions primarily from a mortgage default perspective for the past 22 years and is an attorney licensed to practice law in the states of California, Nevada and Nebraska. He is a founding member of The National Firm McCarthy, Holthus, Baum Ackerman, LLP and a founding shareholder of Quality Loan Service, which provides default solutions to financial institutions. He also serves on the Board of Directors for Cornerstone Bank N.A., York, NE and California Business Bank, Los Angeles, CA. Mr. Holthus obtained a Bachelor of Science in Economics in Business Administration from Arizona State University and a Juris Doctorate from California Western School of Law, San Diego, California.
Kevin R. McCarthy, Esq.
Kevin R. McCarthy is a partner and attorney of the law firm McCarthy Holthus, LLP based in San Diego, California. He was first admitted to practice law in the State of California in 1990. Mr. McCarthy is a founding shareholder of Quality Loan Services, and member of the California State Bar, as well as the California and Arizona Federal District Courts. In addition, he is also a member of the California State Bar Association Real Property Law Section, MBA Legal Affairs Committee, United Trustee Association, Arizona Trustee’s Association, as well as the California Mortgage Banker’s Association and Southern California Mortgage Banker’s Association. Mr. McCarthy has written articles for publication in various trade newsletters and has spoken or chaired at various seminars for industry associations
Bill De Ridder (aka William De Ridder, Quality Loan Service expired business license on record at the Dept of Real Estate)
Tri-Coast Real Estate and Mortgage
4711 3rd Street
La Mesa, California 919141
Except as otherwise indicated or unless the context otherwise requires, all references to “LPS,” “we,” the “Company,” or the “registrant” are to Lender Processing Services, Inc., a Delaware corporation that was incorporated in December 2007 as a wholly-owned subsidiary of FIS, and its subsidiaries; all references to “FIS,” the “former parent,” or the “holding company” are to Fidelity National Information Services, Inc., a Georgia corporation formerly known as Certegy Inc., and its subsidiaries, that owned all of LPS’s shares until July 2, 2008; all references to “former FIS” are to Fidelity National Information Services, Inc., a Delaware corporation, and its subsidiaries, prior to the Certegy merger described below; all references to “old FNF” are to Fidelity National Financial, Inc., a Delaware corporation that owned a majority of former FIS’s shares through November 9, 2006; and all references to “FNF” are to Fidelity National Financial, Inc. (formerly known as Fidelity National Title Group, Inc.), formerly a subsidiary of old FNF but now a stand-alone company.