Source: Fidelity National Financial
Fidelity National Financial (NYSE:FNF), a leading provider of title insurance, specialty insurance and claims management services through a portfolio of companies, today announced that it has signed a definitive agreement to acquire ATM Holdings, Inc. ("ATM"), a provider of nationwide mortgage vendor management services to the loan origination industry.
ATM's primary subsidiary is a licensed title insurance agency which provides centralized title and closing services and a full suite of valuation and appraisal services to national residential mortgage originators, banks and institutional mortgage lenders throughout the United States. It has relationships with eight of the top fifty mortgage originators in the country and is licensed in forty-two states, as well as the District of Columbia. ATM also owns and operates Vision Global Solutions, a proprietary software system that is used to manage the fulfillment of third-party settlement services by more than eleven major lenders.
"The ATM acquisition, combined with ServiceLink, our existing national lender platform, enables FNF to provide its lender customers with a broader suite of centralized title and closing services, as well as access to a full suite of valuation products and appraisal services for both refinance and emerging lender-driven purchase transactions," said Chairman William P. Foley, II. "The valuation and appraisal expertise of ATM and the existing centralized title and closing platform of ServiceLink will make FNF an even more formidable service provider in the growing national lender residential mortgage origination market."
"The addition of ATM's management team, client base, technology suite and product offerings perfectly complements ServiceLink's existing business model and enhances our value proposition to our clients," said Jeff Coury, President of ServiceLink.
Closing of the transaction is expected before the end of the third quarter, subject to customary closing conditions, including the receipt of Hart Scott Rodino approval.