FNF Offers 1st Pool Title Insurance

Fidelity National Financial Inc., Irvine, Calif., has filed a "Master Lien Protection Loan Policy of Title Insurance" with the California Department of Insurance.The company said this is the first "pool" title insurance policy offered by a title insurer. Coverage for the lender is from a master policy, with individual certificates issued each time a loan closes. "If a lender is willing to self-insure portions of the title coverage risk and does not intend to sell the loans into the secondary market, this Lien Protection Policy product may satisfy their underwriting needs at a significant savings in premium," said William P. Foley II, chairman and chief executive officer of FNF. Pricing starts as low as $275 per transaction. The policy is not conditioned on the creditworthiness of the borrower. FNF can be found online at http://www.fnf.com.