LPS Receives FTC Approval to Close Fidelity National Transaction – NMP Skip to main content

LPS Receives FTC Approval to Close Fidelity National Transaction

Dec 27, 2013

Lender Processing Services Inc. (LPS) has announced that the company will have received Federal Trade Commission (FTC) approval of its previously announced acquisition by Fidelity National Financial Inc. (FNF) upon the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 at 11:59 p.m., Eastern time, on Dec. 24, 2013. As part of the approval, LPS and FNF entered into an Agreement Containing Consent Orders to divest within a period of five months (1) a copy of LPS' title plant assets covering six Oregon counties and (2) FNF's interest in a title plant covering Portland, Oregon. There were no other asset divestitures in the FTC approval of the transaction. LPS stockholders approved the transaction at a special shareholder meeting on Dec. 19, 2013. Upon the expiration of the waiting period, LPS will have received all necessary approvals to close this transaction, which is scheduled for Jan. 2, 2014.
About the author
Published
Dec 27, 2013
Insuring The Risk To Lenders At Closing

Traditional protections like title insurance and closing protection letters may leave lenders exposed to significant settlement, funding, and fraud-related losses

CHLA Uses Trump Mortgage Order To Renew Push For LO Comp Reform

Community lenders want more flexibility over employee compensation, closing-cost estimates, down payment assistance, and federal supervision of smaller IMBs

Servicers Begin Testing Systems Ahead of VA Partial Claim Deadline

VA lenders and servicers have until Nov. 28 to implement the new loss mitigation waterfall and Partial Claim Program

ROAD Act’s Housing Incentive May Be Too Small To Move Supply

Realtor.com finds the median city risks losing only about $84,000, although the policy could carry more weight in supply-starved Northeast and Midwest markets

CRA Proposal Could Reshape Bank Lending And Affordable Housing Investment

The OCC and FDIC would put more weight on lending while easing community development requirements for hundreds of banks

Fannie Mae AI Governance Deadline Arrives Aug. 6

Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place