Jacksonville, Fla. -- (January 21, 2009) – Crye-Leike®, REALTORS®, the nation’s fourth largest real estate company, has chosen TransactionPoint® from Cyberhomes LLC, a division of Fidelity National Financial (NYSE:FNF), a Fortune 500 provider of products, services and technology solutions to the financial and real estate industries, as the automated transaction management solution for its 3,800 licensed sales associates in Tennessee, Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi and North Carolina.
According to Crye-Leike, the company conducted an extensive analysis before selecting the technology from Cyberhomes. This enterprise initiative, announced this week, is already underway. By April it will begin improving efficiency and profitability by streamlining operations and facilitating greater collaboration between Crye-Leike’s real estate offices and its ancillary businesses to drive even greater capture rates to these entities.
“This is the launching pad for changing the industry culture,” said Gurtej Sodhi, CIO & Sr. VP for the Crye-Leike Group of Companies. “This platform will allow us to adopt processes that help move the real estate transaction towards a more efficient and paperless business environment.”
TransactionPoint will introduce automated transaction management to Crye-Leike’s network of 126 corporate and franchise offices in 65 counties across the eight Southern states. The solution organizes, reports and secures every activity and document in a real estate transaction as it provides 24/7 access to authorized parties. By centralizing documents in a “paperless” environment, it improves accuracy and communication, while facilitating greater transparency of transaction status and adherence to regulatory compliance requirements.
“Using this cutting-edge transaction management technology platform to collaborate between the real estate professional, the lender and the closer – as well as appraisers, inspectors, and all other parties – will enable Crye-Leike agents to reduce the transaction cycle time as they drastically cut the generation of paper documents,” said Sodhi. “As a result, we believe the entire real estate transaction will become more transparent, giving home buyers timely insight into the status of active transactions, as well as online access to their documentation for an extended period after closing.”
“TransactionPoint is truly redefining how our industry transacts the business of real estate by creating collaboration among partners and reducing the volume of paper involved in the transaction,” said Jay Gaskill, President, Cyberhomes, LLC. “Crye-Leike has a steep tradition of innovation and exceptional service to their customers and agents and we look forward to partnering with them as they enter the next chapter in their pursuit of operational and service excellence."
Harold Crye, CEO and President of the company, describes it as their “next generation technology.”
“TransactionPoint will give our sales associates a great leap forward in better servicing their customers,” Crye said. “It will also enable them to better engage and empower their customers from the start of the transaction, and that will be a big competitive advantage.”
“This is a win-win for the sales associates as well as the home buyers,” he said.
Crye-Leike, REALTORS, established by Harold Crye and Dick Leike in 1977, is a full-service real estate company offering buyers and sellers services in residential sales, mortgage lending, title, insurance, business brokerage and investments, property management, development and construction, builder resources, REO bank-owned properties, relocation, auctions, and home services referrals. In 2008, the Crye-Leike organization attained a sales volume in excess of $4.2 billion with 25,871 homes sold.
For more information on TransactionPoint from FNRES, or the non-proprietary document management solution, DocCentral™, contact Walt Clark at walt.clark@cyberhomes.com.
About Fidelity National Financial
Fidelity National Financial, Inc. (NYSE:FNF), is a leading provider of title insurance, specialty insurance, claims management services and information services. FNF is one of the nation’s largest title insurance companies through its title insurance underwriters - Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title - that issue approximately 28 percent of all title insurance policies in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business. FNF also is a leading provider of outsourced claims management services to large corporate and public sector entities through its minority-owned subsidiary, Sedgwick CMS. FNF is also a leading information services company in the human resource, retail and transportation markets through another minority-owned subsidiary, Ceridian Corporation. More information about FNF can be found at www.fnf.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on operating subsidiaries as a source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.
MEDIA CONTACTS:
Darcy Patch, Senior Vice President of Marketing, Real Estate and Mortgage Information Services, 949-477-1173, Darcy.Patch@lpsvcs.com