FNIS, Bank of America to combine resources

Real Estate Weekly, May 7, 2003

Fidelity National Information Solutions, Inc. and Bank of America Corporation announced their intent to combine resources and create Financial ServiceSolutions Information Systems, LLC, a mortgage technology-related 50/50 joint venture between the two companies.

FSIS will act as the development arm of Financial ServiceSolutions, LLC, the previously announced joint venture between Bank of America and Fidelity National Financial, Inc., a majority owner of FNIS. FSIS will provide software development and outsourced technology services to Financial ServiceSolutions under an annual outsource agreement. Dwayne Walker, president and chief operating officer of FNIS will serve as the president of ESIS.

"We are excited to join forces with an industry leader like Bank of America," said Patrick F. Stone, chief executive officer of ENIS. "The outsource agreement with Financial ServiceSolutions is a great source of recurring technology revenue for FNIS."