Jacksonville, Fla.-based title insurance and transaction services provider to the real estate and mortgage industries, Fidelity National Financial, Inc. (FNF), offers various insurance products, including trust activities, trustee sales guarantees, reconveyances, and home warranty insurance. The settlement services provider’s stock has dipped 17.1% in price over the past month and 20.6% year-to-date, due mainly to bearish investor sentiment surrounding the real estate market amid growing recession worries.
While FNF’s direct title premiums rose 21% year-over-year to $1 billion, the company’s refinance orders have declined 39% daily from the fourth quarter of 2020. Furthermore, earlier this month, the Federal Reserve Bank of Dallas issued a warning about the property market showing signs of “a brewing bubble.”
