Fidelity National Financial (FNF) has purchased Lender Processing Services (LPS) as we suspected and is being reported by Housing Wire. One of the biggest questions on Contractor’s minds is whether or not the field services will continue as business-as-usual and whether or not Contractors will be paid for services already rendered. We reached out to Michelle Kersch, Senior Vice President of Corporate Communications and Marketing for comment as it is a legitimate question to be asked. While on the one hand, LPS is entitled to do what they want with respect to their business, it would appear that Contractors are becoming more and more the last ones to know anything even though they are the ones conducting the work in the trenches for these multi billion dollar firms.
To date, neither FNF nor LPS have returned phone calls or emails for comments with respect to whether either will pay Contractors for outstanding Work Orders or what the Status will be with respect to future work. Obviously, this will impact the work which has been dispatched by Order Mills to Contractors as well.