Fidelity National Financial Inc., Jacksonville, Fla., has acquired Geotrac Inc., a provider of flood determination and life-of-loan monitoring services, for an undisclosed price."Geotrac provides additional critical mass and improved scale to our flood information business, and its strength in the Midwest provides additional geographic coverage that augments our current market penetration," said William P. Foley II, FNF's chairman and chief executive officer. Mr. Foley said the addition of Geotrac's digitized flood plain maps will enable FNF to increase the percentage of automatic determinations and reduce manual exception processing. FNF can be found online at http://www.fnf.com.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
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The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
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Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
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Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
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Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
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Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.
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