Fidelity National Financial Inc., Jacksonville, Fla., has announced the formation of a board of directors for Fidelity National Title Group that it says will allow FNF to "truly operate as a holding company."William P. Foley II, FNF's chairman and chief executive officer, will be chairman of the FNT board, and FNF board members Willie Davis, John Farrell, Phil Heasley, Bill Imparato, Don Koll, Gen. William Lyon, and Frank Willey will move from the FNF board to FNT's. FNF said it will initially have majority ownership stakes in FNT and Fidelity National Information Services and 100% ownership of its specialty insurance business. "As a holding company, FNF will have the flexibility to make investments in other lines of business that it feels will allow it to best achieve its ultimate goal of maximizing FNF shareholder value," Mr. Foley said. The company can be found online at http://www.fnf.com.
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Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
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The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
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A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
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The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
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The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
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The Bureau of Labor Statistics report showed the labor force continued to expand but at a weaker rate than in recent months. The development weakens the case for a near-term rate hike.
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