SAN FRANCISCO (MarketWatch) -- Fidelity National Financial Inc. /quotes/comstock/13*!fnf/quotes/nls/fnf (FNF 14.75, -0.29, -1.93%) said Friday it believes that recently halted foreclosures over potentially flawed bank documents will not adversely affect its title insurance business. Fidelity made the comment following an earlier Bloomberg News article reporting that millions of property titles could be in jeopardy because of possible faulty bank documentation practices that have stalled thousands of foreclosures. "Even if a court sets aside a foreclosure due to a defect in documentation the foreclosing lender would be required to return to our insureds all funds obtained from them, resulting in no loss under the title insurance policy," Fidelity said in a statement. Shares of Fidelity National and rival First American Financial Corp. /quotes/comstock/13*!faf/quotes/nls/faf (FAF 14.48, -0.46, -3.08%) were down more than 4% in recent activity.
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SAN FRANCISCO (MarketWatch) -- Fidelity National Financial Inc. /quotes/comstock/13*!fnf/quotes/nls/fnf (FNF 14.75, -0.29, -1.93%) said Friday it believes that recently halted foreclosures over potentially flawed bank documents will not adversely affect its title insurance business. Fidelity made the comment following an earlier Bloomberg News article reporting that millions of property titles could be in jeopardy because of possible faulty bank documentation practices that have stalled thousands of foreclosures. "Even if a court sets aside a foreclosure due to a defect in documentation the foreclosing lender would be required to return to our insureds all funds obtained from them, resulting in no loss under the title insurance policy," Fidelity said in a statement. Shares of Fidelity National and rival First American Financial Corp. /quotes/comstock/13*!faf/quotes/nls/faf (FAF 14.48, -0.46, -3.08%) were down more than 4% in recent activity.