Fidelity National buys RISCO from iProperty.com
Fidelity National Financial, one of the nation's largest providers of title
insurance and real estate related products and services, today announced that
it has signed a definitive agreement to purchase RISCO from iProperty.com.
The purchase includes Chorus, iProperty's real estate transaction management
technology. The transaction is expected to close in early June.
RISCO, founded in 1979, is the third largest MLS vendor in the United
States. The company serves more than 300 MLS Boards and organizations in 42
states, Puerto Rico and New Zealand and focuses on smaller MLS boards, normally
with fewer than 1,000 agents, in rural areas of the country.
"RISCO is a great addition to our real estate data strategy, and
combined with VISTAinfo we will own two of the three largest MLS providers in
the country," said William P. Foley II, chairman and CEO of Fidelity
National Financial, in a press release.
Ellie Mae hooks up with Desert Documents
Ellie Mae, a provider of Internet solutions for the mortgage brokerage
community announced today a strategic partnership with Desert Document
Services, a provider of data capture and Web delivery of closing documents to
the mortgage banking industry.
The deal will provide Genesis 2000 users with direct access to document
services through the ePASS Business Center (electronic Processing And
Submission System).
The combined technologies will allow brokers and bankers to complete
transactions over the Internet, eliminating the need for data re-entry and
courier fees, the companies said.
Genesis 2000 (www.genesis2000.com)
is a wholly owned subsidiary of Ellie Mae, and provides integrated programs for
residential mortgage lending institutions of all sizes. Founded in 1986,
Genesis 2000 offers mortgage professionals a variety of user-friendly desktop
and Internet-based loan processing and tracking products and services to
increase workflow performance and automate the mortgage origination process
Open Systems, NW Management to form GURU
Open Systems Associates (OSA), a supplier of software for the residential
real estate industry, and NM Management, a real estate services corporation,
have combined to form GURU NETworks (http://www.gurunet.net).
The joint venture involving OSA and NM Management, whose holdings include
Century 21 New Millennium and its affiliated companies, will provide brokers'
with core functions including Web sites, e-mail, lead generation, Multiple
Listing Service transaction management and accounting.
