Fidelity acquires Commerce Velocity
Fidelity National Financial (FNF), a provider of title insurance, mortgage services, specialty insurance and information services, has acquired Commerce Velocity, which provides technology solutions to mortgage lenders, loan servicing organizations and investment banks.
Commerce Velocity offers offers three web-based, SaaS products: Spectrum, Optimizer and AssetX.
Fidelity said that the Commerce Velocity technology will be strategically aligned with ServiceLink, a lender platform for FNF and a provider of origination and default related solutions for the mortgage industry.
Fidelity chairman William Foley said that the acquisition will bring an efficient technology platform that can support the lender's process while incorporating premier origination and default solutions.
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