UPDATE 1-Title insurer Fidelity National profit up 13-fold

* Orders surge, helped by low rates

* Activity tails off in June, at similar levels in July

NEW YORK, July 27 (Reuters) - Fidelity National Financial
Inc (FNF.N), which controls one of the largest U.S. title
insurers, posted a 13-fold increase in quarterly profit on
Monday, as acquisitions and falling mortgage rates contributed
to a surge in business.

Second-quarter profit attributable to shareholders of the
Jacksonville, Florida-based company rose to $91.9 million, or
40 cents per share, from $6.9 million, or 3 cents, a year
earlier. Revenue increased 34 percent to $1.57 billion.

Analysts on average expected profit of 40 cents per share
on revenue of $1.64 billion, according to Reuters Estimates.

Title insurance guarantees that property owners have title
to property and can legally transfer that title. Many lenders
require that buyers have the insurance before extending loans.

The quarter was the second since Fidelity National in
December bought three title insurers, including LandAmerica
Financial Group Inc's LFGRQ.PK Commonwealth Land Title
Insurance Co and Lawyers Title Insurance Corp.

Chairman William Foley said volume slowed late in the
quarter as mortgage rates increased, and that order counts in
July have been similar to June's levels.

Fidelity National said 745,800 orders were opened in the
quarter and 462,600 were closed, up a respective 42 percent and
50 percent a year earlier. June open orders totaled 202,200.

The company's shares closed Monday down 9 cents at $13.53
on the New York Stock Exchange. They have roughly doubled from
their 52-week low of $6.66 set last Nov. 21.
(Reporting by Jonathan Stempel, editing by Matthew Lewis)