Fidelity National Asset Management Solutions Partners with REO.com to Benefit Brokers and Agents

August 23, 2002

Denver, Colo. -- Fidelity National Asset Management Solutions Inc. (FNAMS), a leading third party provider of REO outsource services, today announced a strategic technology alliance with REO.com Inc. REO.com is a leading provider of real estate related workflow products, foreclosure data and management services. "This partnership delivers significant productivity gains and cost reductions to lenders, servicers, asset managers, and REO listing brokers in mortgage default management and the sale of real estate owned properties," said Tom DiMercurio, president of FNAMS.

Under the agreement, FNAMS will integrate REO.com's Offer Management System (OMS) within FNAMS outsourcing operations and provide the software to real estate brokers and agents who manage the sale of FNAMS' REO properties. REO.com's OMS product will be used by FNAMS as its communication hub to manage its agent network and to allow servicing clients to electronically deliver their property listings via the FNAMS and REO.com Web site. Additionally, REO.com's distribution partners will also feature FNAMS' REO listings for Internet marketing purposes. The system processes and delivers offers electronically for approval or counter offer to maximize efficiency and accuracy.

Sign-up for the OMS technology will be premiered at the FNAMS' conference "Nobody Does It Better," where more than 700 of the nation's leading REO brokers/agents will be in attendance. The conference dates are August 23-25 in Westminster, Colo.

"REO.com's OMS technology and extranet capabilities enables FNAMS to create more efficiencies in our liquidation of real estate owned properties. REO.com and its OMS system are at the cutting edge of REO technology. The benefits to our operation, our agent network and our client base will be substantial," said DiMercurio. "The OMS software is expected to be the foundation of a forward-looking 'REO Broker Toolkit'," added Bradlee Marick, VP and director of technology, FNAMS.

"This strategic alliance with a company such as Fidelity National Asset Management Solutions marks a major achievement in the evolution of our OMS product," said Dana Keith, president of REO.com. "The alliance will result in lower costs, elimination of time delays and a better yield on non-performing portfolios - a major benefit to FNAMS' clients and the real estate sales community," Keith added.