Fidelity told a room its refinance business was falling. It was rising.

Fidelity National Financial sells title insurance. That means it checks who really owns a house and covers the buyer if the answer is wrong. It also runs escrow and other closing work. It owns a large annuity and life insurer as well. [C4][C4] Description of the BusinessWe are a leading provider of (i) title insurance, escrow and other title-related services, including loan sub-servicing, valuations, default services, and home warranty, (ii) transaction services to the real estate and mortgage industries, and (iii) annuity and life insurance products. FNF is one of the nation’s largest title insurance companies operating through its title insurance underwritersFidelity National Financial, Inc. quarterly report on Form 10-Q for the period ended June 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000073/fnf-20260630.htm

It is the biggest of its kind. Its insurers write more title policies than any other title firm in the country. [C4][C4] Description of the BusinessWe are a leading provider of (i) title insurance, escrow and other title-related services, including loan sub-servicing, valuations, default services, and home warranty, (ii) transaction services to the real estate and mortgage industries, and (iii) annuity and life insurance products. FNF is one of the nation’s largest title insurance companies operating through its title insurance underwritersFidelity National Financial, Inc. quarterly report on Form 10-Q for the period ended June 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000073/fnf-20260630.htm

The business is large and growing. Sales were $4.1 billion in the three months to June 30, 2026. A year earlier the same months brought in $3.6 billion. [C3][C3] Condensed Consolidated Statements of EarningsDirect title insurance premiums $ 767 $ 632 $ 1,350 $ 1,142 Agency title insurance premiums 967 839 1,755 1,520 Escrow, title-related and other fees 1,173 1,289 2,284 2,354 Interest and investment income 811 777 1,633 1,537 Recognized gains and losses, net 333 98 255 ( 189 ) Total revenues 4,051 3,635 7,277 6,364Fidelity National Financial, Inc. quarterly report on Form 10-Q for the period ended June 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000073/fnf-20260630.htm

On September 15, 2026 Fidelity sat for a question session at a Barclays event. It was asked about orders to refinance homes. Those orders open when a homeowner starts the paperwork. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

The answer it gave was grim. July orders were down 5% from a year before. August orders were down in the mid-30% range. That paints a business falling off a cliff. [C2][C2] Item 7.01, Regulation FD DisclosureDuring the question and answer session, the Company stated that July 2026 refinance opened orders were down 5% year-over-year and that August 2026 refinance opened orders were down in the mid-30% range.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

The next day the company filed a fix. July orders were actually up about 15%. August orders were down about 5%. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

Put the two side by side and the gap is wide. July was wrong by about 20 points. August was wrong by about 30 points. One picture is a slump. The other is close to flat. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm [C2][C2] Item 7.01, Regulation FD DisclosureDuring the question and answer session, the Company stated that July 2026 refinance opened orders were down 5% year-over-year and that August 2026 refinance opened orders were down in the mid-30% range.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

Fidelity said why it filed. It wants investors and others to have right numbers on this. [C5][C5] Item 7.01, Regulation FD DisclosureThe Company is furnishing this information to ensure that investors and other market participants have accurate information regarding this matter. This clarification does not affect the Company's previously announced financial results or filings with the Securities and Exchange Commission.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

The company also drew a line around the fix. It says nothing in its past results or past filings changes because of this. [C5][C5] Item 7.01, Regulation FD DisclosureThe Company is furnishing this information to ensure that investors and other market participants have accurate information regarding this matter. This clarification does not affect the Company's previously announced financial results or filings with the Securities and Exchange Commission.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

Nobody says how the wrong numbers were given. The filing does not say who spoke or where the figures came from. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

September is missing. The filing gives July and August and stops there. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm

What this does to profit is not stated. Orders opened are a count of jobs started, not money earned. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm [C3][C3] Condensed Consolidated Statements of EarningsDirect title insurance premiums $ 767 $ 632 $ 1,350 $ 1,142 Agency title insurance premiums 967 839 1,755 1,520 Escrow, title-related and other fees 1,173 1,289 2,284 2,354 Interest and investment income 811 777 1,633 1,537 Recognized gains and losses, net 333 98 255 ( 189 ) Total revenues 4,051 3,635 7,277 6,364Fidelity National Financial, Inc. quarterly report on Form 10-Q for the period ended June 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000073/fnf-20260630.htm

House purchase work is not covered here. The fix is only about orders to refinance. [C1][C1] Item 7.01, Regulation FD DisclosureOn September 15, 2026, Fidelity National Financial, Inc. (the "Company"), participated in a fireside chat at the Barclays Global Financial Services Conference. During the question and answer session, the Company provided year-over-year metrics for the Company's refinance opened orders for July and August 2026. The Company is filing this Current Report on Form 8-K to correct the year-over-year refinance opened order metrics for July and August 2026 as follows: – July 2026: Refinance opened orders were up approximately 15% year-over-year. – August 2026: Refinance opened orders were down approximately 5% year-over-year.Fidelity National Financial, Inc. current report on Form 8-K, filed September 16, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1331875/000133187526000087/fnf-20260915.htm