eFunds parent announces plans to spin off lending unit

eFunds parent announces plans to spin off lending unit
Tags: Bank / Credit Union, EFT Networks, North America, Other, Public Companies, Transaction Processing, Trends / Statistics
November 5, 2007

MarketWatch: Fidelity National Information Services Inc., which in September completed its $1.8 billion acquisition of eFunds Corp., says its board of directors is supporting a plan to spin off its lender processing services division into a separate public company. The division provides large mortgage lenders with origination, automated title and settlement, processing, default, valuation, risk management tax, flood and collateral protection solutions. Completion of the possible spin-off is expected to occur in mid-2008.