Possible Fidelity/LPS Merger: Bad for Independent Title Agents, Bad for Consumers.
A proposed merger of the world’s largest title insurance underwriter, Fidelity National Financial (parent of Fidelity Title, Chicago Title, Lawyers Title and Commonwealth Title), and the country’s largest mortgage servicer, Lender Processing Services, is readying to close soon. The deal would merge the two giants into a “cradle-to-grave” mortgage services platform enabling the largest lenders…