Fidelity Buys Tech Provider Commerce Velocity

Fidelity National Financial Inc. (FNF), a provider of title insurance, mortgage services, specialty insurance and information services, has acquired technology provider Commerce Velocity.

Commerce Velocity offers three Web-based, software-as-a-service products: Spectrum, a loan origination system; Optimizer, a loss mitigation platform; and AssetX, which is designed to facilitate the acquisition and management of performing and nonperforming loan pools.

The Commerce Velocity technology will be strategically aligned with ServiceLink, the national lender platform for FNF and a provider of origination- and default-related solutions. The integration creates a complete workflow management solution from loan origination through loss mitigation, default and asset disposition, FNF says.

SOURCE: Fidelity National Financial Inc.


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