nCommand and Fidelity National Financial Partner to Offer Lower-Cost Mortgage Processing

Fidelity National Financial, Inc. has partnered with nCommand to provide lender services through its value-added network, utilizing nCommand's Mortgage Electronic Partner Network (EPN) to automate and synchronize intercompany business processes. This partnership enables lenders to electronically access Fidelity's extensive suite of mortgage products, including credit reporting, appraisal, and title services, via the Internet using only a browser. The connection between nCommand and Fidelity is facilitated by technology from Micro General, Fidelity's majority-owned technology subsidiary.

Key Takeaways:

• The partnership between Fidelity National Financial and nCommand aims to reduce labor costs associated with loan processing for mortgage lenders, which account for 65% of the cost of loan production (Source: Mortgage Bankers Association of America).
• nCommand's Mortgage EPN aggregates disparate documents from multiple external service providers and consolidates them into a complete digital loan package (Source: nCommand).
• The partnership uses XML-based architecture to integrate documents seamlessly across multiple computing and communication platforms (Source: nCommand).
• Fidelity National Financial's extensive suite of mortgage products includes credit reporting, appraisal, and title services (Source: Fidelity National Financial).
• The connection between nCommand and Fidelity is facilitated by technology from Micro General, Fidelity's majority-owned technology subsidiary (Source: Fidelity National Financial).
• nCommand's EPN is designed to automate the loan fulfillment process, streamline distribution for service providers, and reduce labor costs for lenders (Source: Fidelity National Lender Solutions).
• The partnership is a big win for all parties involved, as it helps lenders reduce labor costs and increase operational efficiencies (Source: Fidelity National Lender Solutions).

Statistics:

• 65% of the cost of loan production is attributed to labor costs (Source: Mortgage Bankers Association of America).
• 30% of all title insurance policies are issued by Fidelity National Title, one of Fidelity National Financial's title insurance underwriters (Source: Fidelity National Financial).
• Fidelity National Financial operates in 49 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Canada (Source: Fidelity National Financial).

Sources:

• Mortgage Bankers Association of America
• Fidelity National Financial, Inc.
• nCommand Inc
• Micro General Corporation