Mortgage Biz a Growth Industry, Says FNIS Exec

Despite its cyclical nature, the mortgage lending business is really a growth industry, the chief executive officer of Fidelity National Information Solutions told an FNIS conference May 28."It may be cyclical, but it’s more growth than cycle," Patrick F. Stone said at the Valuation Innovation & Leadership Summit in Laguna Beach, Calif. The audience of about 150 was made up of mortgage lenders, settlement services providers, technology vendors, consultants, and the news media. The company hosted the summit to discuss issues surrounding collateral valuation, but Mr. Stone assured attendees that it would not be a "commercial" for his firm, which offers a number of products and services, including automated valuation models. FNIS, based in Santa Barbara, Calif., is a subsidiary of Fidelity National Financial, which can be found online at http://www.fnf.com.