We compete with FNF in metropolitan Houston, Texas, the 3rd largest market for title insurance in the US and we are shareholders in Title Data Inc. the joint plant either owned or used by a majority of the title agents in our area. FNF owns, either directly or indirectly, 42% of Title Data and has representatives who sit on the Executive Committee and the Board of Directors of that company. While they do not own a majority interest in Title Data, they along with other national underwriters do own a majority interest, this leaves an independent agent at the mercy of the underwriters who might wish to vote in their special interest rather than in the interest of Title Data. This was clearly evident in a recent vote about Title Data's expansion into another competive market within our state, that FNF's representatives were initially going to vote against such expansion because of their own plant ownership in that other market. Only after being reminded of their duty to Title Data, and their potential liability were we able to change their vote. It does not take a majority to control a company especially with other underwriters in ownership, independent agents such as ours continously have to fight to maintain a market edge.