RealEC Technologies does 1.2 million transactions

Real Estate Weekly, Nov 6, 2002

RealEC Technologies(TM), the industry's leading secure B2B eCommerce exchange for mortgage fulfillment transactions and majority-owned subsidiary of FNIS, has successfully processed 1.2 million real estate orders resulting in more than six million related transactions during the first nine months of 2002. RealEC is currently averaging more than 200,000 real estate orders per month, yielding in excess of one million related vendor transactions in the same timeframe. During the past twelve months (Sept. 2001-Sept. 2002), transaction volume increased by a remarkable 215 percent, outpacing all other mortgage-related Internet exchanges. RealEC's unsurpassed growth during 2002 is indicative of the highest level of commitment and endorsement by the nation's leading mortgage lenders and service providers. Nine of the nation's top ten mortgage originators currently use the RealEC exchange in some capacity, and all of the nation's top five settlement service providers actively use RealEC for transaction management. Th e company also touts the industry's foremost service provider network, with more than 3,500 active members.

"In a time when many technology vendors are struggling to attain profitability, RealEC has posted a profitable performance six of the past seven months and, most recently, during the 3rd quarter of 2002," said RealEC president Jeff Sanderson. "The volume and calibre of loan originators subscribing to the RealEC Exchange continues to expand and includes the most prestigious names m the industry."

The Company will demonstrate the latest features of the RealEC Exchange(TM) and iSelect(SM) at the MBA 89TH Annual Conference in Chicago, Ill. from Oct 20-23 at the Hyatt Regency Chicago in Booth No. 303-305. RealEC is designed to facilitate the origination, servicing, and closing of real estate transactions and to enable real estate practitioners to significantly enhance the profitability of their businesses, using RealEC's integrated solutions. The RealEC Exchange is an intelligent routing engine that offers traditional transaction capability and provides standardized connectivity and data transport functionality for originators and service providers involved in the transaction. It handles data translation and facilitates rapid information flow while integrating seamlessly with service provider's production systems. RealEC Technologies is a majority-owned subsidiary of Fidelity National Information Solutions (Nasdaq: FNIS) with significant equity ownership by Stewart Title Company and LandAmerica Financial Group. FNIS is a majority-owned subsidiary of Fidelity National Financial.