SANTA BARBARA, Calif., Dec 23, 2002 /PRNewswire-FirstCall via COMTEX/ --
Fidelity National Information Solutions, Inc. (Nasdaq: FNIS), the nation's most comprehensive source for real estate-related data, software solutions and services, today announced the signing of a strategic, multi-year Outsourcing and Software Application Services Agreement with HomeServices of America, Inc., ("HomeServices"), a Berkshire Hathaway Affiliate. HomeServices is the nation's second largest residential real estate company comprised of market-leading brokerage companies offering a full menu of customer focused products and services.
As part of the agreement, FNIS will acquire HomeServices' proprietary TRIO(R) software system and web-based platform. TRIO(R) provides consumer facing broker websites, MLS data aggregation, listing and agent data administration and other productivity functionality for real estate sales associates in the HomeServices family of companies. Upon consummation of the transaction, FNIS will provide and support the TRIO(R) software, enhanced with features and functionality from FNIS' broker and agent software and services suite, for the HomeServices companies.
"We are excited about the chance to work with a market leader like HomeServices," said Patrick F. Stone, Chief Executive Officer of FNIS. "These agreements represent our initial relationship with the more than 14,000 agents in the HomeServices network and we are confident that there will be many more opportunities for FNIS to provide valuable data and technology solutions to the HomeServices family of brokerages."
"We are excited about this strategic partnership that will provide a broader complement of agent tools to enhance the productivity and effectiveness of our sales associates," said Ronald J. Peltier, President and Chief Executive Officer of HomeServices of America, Inc. "FNIS is the nation's largest provider of Multiple Listing Services and this will improve the broker reciprocity of TRIO(R). We remain committed to leading edge technology that is critical to the execution of our vision of going Beyond the sale(TM) to deliver an unparalleled customer service experience."
Fidelity National Information Solutions, Inc. (Nasdaq: FNIS) provides data, technology solutions and services to lenders, real estate professionals, settlement companies, vendors and other participants in the real estate industry. The data segment targets the information needs of lenders, originators, real estate professionals and residential loan servicers and provides the data solutions that these mortgage professionals require in selling homes and underwriting mortgage loans. The solutions division provides technology products and services. FNIS is the nation's largest provider of Multiple Listing Services (MLS) systems and also supplies tools that allow real estate professionals and brokers to improve efficiency, lower costs, reduce risks and better manage and operate their businesses. The services segment adds value by combining manual intervention, outsourcing or process improvement with one or more of the Company's data or solutions components.
FNIS is a majority-owned subsidiary of Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 Company and the nation's largest title insurance and diversified real estate related services company. FNF's title insurance underwriters -- Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title -- together issue approximately 30 percent of all title insurance policies nationally. The company provides title insurance in 49 states, the District of Columbia, Guam, Mexico, Puerto Rico, the U.S. Virgin Islands and Canada.
HomeServices of America, Inc. is based in Minneapolis, Minn. and is the second-largest full-service independent residential real estate brokerage firm in the U.S. based on closed transaction sides. The HomeServices system offers integrated real estate services, including brokerage services, mortgage originations, title and closing services, home warranties, property and casualty insurance, and other related services. HomeServices operates in 15 states under the following brand names: Carol Jones Realty, CBSHOME Real Estate, Champion Realty, Edina Realty, First Realty/GMAC, Iowa Realty, Jenny Pruitt and Associates REALTORS, Long Realty, Prudential California Realty, RealtySouth, Reece & Nichols, Semonin REALTORS and Woods Bros. Realty. Information about HomeServices and the locations of its subsidiary companies is available on the Internet at www.homeservices.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 Discussion and Analysis" section of the Company's Form 10-K and other reports and filings with the Securities and Exchange Commission.
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SOURCE Fidelity National Information Solutions, Inc.
Daniel Kennedy Murphy, Senior Vice President, Finance and Investor Relations of Fidelity National Financial, Inc., +1-805-696-7218, email@example.com; or Cindy L. Sattler, Vice President, Corporate Controller of HomeServices of America, Inc., +1-952-928-9550, firstname.lastname@example.org
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