Fidelity Buys DOCX Services
Fidelity National Financial here has acquired DOCX LLC, a provider of mortgage lien release solutions, assignment services, county recording office requirements and fee calculators to the mortgage banking industry.
Headquartered in Alpharetta, Ga., DOCX provides outsourced lien release and assignment services to mortgage lenders. DOCX also offers a lien release software platform that can be licensed for use in an in-house environment and maintains a national database of county recording office information and recording fee and transfer tax calculators that can be accessed electronically through the patent-pending Feewise calculator.
"The acquisition of DOCX enhances the scale of our lien release capabilities and provides access to a marquee customer base," said Fidelity executive vice president, Ernest D. Smith.
"It also provides a viable in-house software platform that can now be provided to those potential customers who operate through an in-house lien release model," he said. "The Feewise calculator is also a great tool that can be used by our title operations in automatically calculating closing fees."
"We are very excited about the acquisition and the potential to introduce our solutions to the marketplace through a seamless mechanism," said DOCX president, Lorraine O'Reilly Brown. "Ultimately, this combination provides our clients with the most comprehensive solution, offering the greatest value in terms of a total cost of ownership."
Fidelity would not disclose the terms of the agreement or if any executive changes were eminent as a result.
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