LoanCare Servicing Center

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Title Insurer Taps Servicing Business

May 15, 2009By

Title insurer Fidelity National Financial [stock FNF][/stock] plans to acquire LoanCare Servicing Center, a loan subservicer and outsourced loss mitigation service provider that will integrate with Fidelity’s lender platform. Previously a wholly-owned subsidiary of LandAmerica Financial Group, LoanCare will join a family of acquired LandAmerica businesses at Fidelity, including Commonwealth Land Title, Lawyers Title and Unit Capital Title. The new deal costs Fidelity $16.3m and brings LoanCare’s $12.4m in tangible equity.