FNIS Acquires Eastern Financial Systems Inc.

SANTA BARBARA, CA-The sale of Eastern Financial Systems Inc. to Fidelity National Information Solutions Inc. has closed just 10 days after FNIS signed definitive acquisition documents.

FNIS officials say the purchase of Eastern Financial, which is a provider of mortgage loan origination software systems, will make their company more efficient, as the transaction will bring Fidelity National the systems and support it needs to streamline the real estate process. The company plans to integrate its mortgage data products with Eastern Financial’s loan origination platform, according to Fidelity National’s CEO Patrick F. Stone. He adds that the acquisition of Eastern Financial brings FNIS “another step closer to offering more complete data exchange and technical integration between the sales, mortgage lending and settlement service processes of a real estate transaction.”