<PAGE>

                                                                EXHIBIT 10.72

NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE HEREOF NOR ANY
INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE SOLD, ASSIGNED, PLEDGED,
HYPOTHECATED, ENCUMBERED OR IN ANY OTHER MANNER TRANSFERRED OR DISPOSED OF
EXCEPT IN COMPLIANCE WITH THE SECURITIES ACT OF 1933, AS AMENDED AND THE TERMS
AND CONDITIONS HEREOF.  THE HOLDER OF THIS WARRANT AND THE SECURITIES ISSUABLE
UPON EXERCISE HEREOF ARE SUBJECT TO THE RESTRICTIONS HEREIN SET FORTH.

VOID AFTER 5:00 P.M. NEW YORK CITY TIME, MARCH 16, 2010.


                      ****************************************

                                     Number 31

                                      WARRANT

                                         to

                               PURCHASE COMMON STOCK

                                         of

                                 F.Y.I. INCORPORATED

                      ****************************************


              This certifies that, for good and valuable consideration,
F.Y.I. Incorporated, a Delaware corporation (the "Company"), grants to RONALD
ZAZWORSKY or permitted registered assigns (the "Warrantholder" or
"Warrantholders"), the right to subscribe for and purchase from the Company,
at $26.375 per share (the "Exercise Price"), twenty thousand (20,000) shares
of the Company's Common Stock, par value $0.01 per share (the "Common
Stock"), subject to the provisions and upon the terms and conditions herein
set forth.  The Exercise Price and the number of Warrant Shares are subject
to adjustment from time to time as provided in subsection 1.10.

       1.     DURATION AND EXERCISE OF WARRANT; LIMITATION ON EXERCISE; PAYMENT
OF TAXES.

       1.1    DURATION AND EXERCISE OF WARRANT.  (a) Subject to subsection
1.3, this Warrant may be exercised to purchase (i) 33 1/3% of the underlying
shares from and after 9:00 A.M. New York City time on March 16, 2001 (the
"First Exercise Date"); (ii) 33 1/3% of the underlying shares on March 16,
2002 (the "Second Exercise Date"); and the remaining (iii) 33 1/3% of the


                                       1
<PAGE>

underlying shares on March 16, 2003 (the "Third Exercise Date") to and
including 5:00 P.M. New York City time on March 16, 2010 (the "Expiration
Date").  Each of the First Exercise Date, the Second Exercise Date and the
Third Exercise Date are hereinafter referred to from time to time, as
applicable, as the "Exercise Date" and collectively from time to time as the
"Exercise Dates")."

              (b)    The rights represented by this Warrant may be exercised by
       the Warrantholder of record, in whole, or from time to time in part, by:

                     (i)    Surrender of this Warrant, accompanied by either the
              Exercise Form annexed hereto, or if the Warrantholder decides to
              exercise the Warrant pursuant to the broker-assisted cashless
              exercise program instituted by the Company, an applicable exercise
              form provided by the Company (the "Exercise Form") duly executed
              by the Warrantholder of record and specifying the number of
              Warrant Shares to be purchased, to the Company at the office of
              the Company located at 3232 McKinney Avenue, Suite 900, Dallas,
              Texas 75204 (or such other office or agency of the Company as it
              may designate by notice to the Warrantholder at the address of
              such Warrantholder appearing on the books of the Company) during
              normal business hours on any day (a "Business Day") other than a
              Saturday, Sunday or a day on which the New York Stock Exchange is
              authorized to close or on which the Company is otherwise closed
              for business (a "Nonbusiness Day") on or after 9:00 A.M. New York
              City time on the Exercise Date but not later than 5:00 P.M. on the
              Expiration Date (or 5:00 P.M. on the next succeeding Business Day,
              if the Expiration Date is a Nonbusiness Day),

                     (ii)   Delivery of payment to the Company in cash or by
              certified or official bank check in New York Clearing House Funds,
              of the Exercise Price for the number of Warrant Shares specified
              in the Exercise Form (such payment may be made by the
              Warrantholder directly or by a designated broker pursuant to the
              broker-assisted  cashless exercise program instituted by the
              Company, subject to subsection 1.5 herein) and

                     (iii)  Such documentation as to the identity and authority
              of the Warrantholder as the Company may reasonably request.

              Such Warrant Shares shall be deemed by the Company to be issued to
       the Warrantholder as the record holder of such Warrant Shares as of the
       close of business on the date on which this Warrant shall have been
       surrendered and payment made for the Warrant Shares as aforesaid.
       Certificates for the Warrant Shares specified in the Exercise Form shall
       be delivered to the Warrantholder (or designated broker, as the case may
       be) as promptly as practicable, and in any event within 10 business days,
       thereafter.  The stock certificates so delivered shall be in
       denominations of at least one thousand (1,000) shares each or such other
       denomination as may be specified by the Warrantholder and agreed upon by
       the Company, and shall be issued in the name of the Warrantholder or, if
       permitted by subsection 1.5 and in accordance with the provisions
       thereof, such other


                                       2
<PAGE>

       name as shall be designated in the Exercise Form.  If this Warrant
       shall have been exercised only in part, the Company shall, at the time
       of delivery of the certificates for the Warrant Shares, deliver to the
       Warrantholder (or designated broker, as the case may be) a new Warrant
       evidencing the rights to purchase the remaining Warrant Shares, which
       new Warrant shall in all other respects be identical with this
       Warrant.  No adjustments or payments shall be made on or in respect of
       Warrant Shares issuable on the exercise of this Warrant for any cash
       dividends paid or payable to holders of record of Common Stock prior
       to the date as of which the Warrantholder shall be deemed to be the
       record holder of such Warrant Shares.

              (c)    In the event of Ronald Zazworsky's death prior to the
       Expiration Date, this Warrant may be exercised to the extent then
       exercisable by Mr. Zazworsky's legal representative through the
       Expiration Date.

       1.2    LIMITATION ON EXERCISE.  If this Warrant is not exercised prior
to 5:00 P.M. on the Expiration Date (or the next succeeding Business Day, if
the Expiration Date is a Nonbusiness Day), this Warrant, or any new Warrant
issued pursuant to subsection 1.1, shall cease to be exercisable and shall
become void and all rights of the Warrantholder hereunder shall cease.
Subject to subsection 1.3, this Warrant shall not be exercisable, and no
Warrant Shares shall be issued hereunder, prior to 9:00 A.M. New York City
time on the First Exercise Date.

       1.3    EXERCISE UPON CHANGE OF CONTROL.  In the event of a Change in
Control (as defined below), this Warrant shall immediately vest in its
entirety with respect to the Warrantholder's right to purchase all of the
shares underlying the Warrant and may be exercised in whole or in part from
time to time through and including the Expiration Date.  A "Change in
Control" shall be deemed to have occurred if:

                     (i)    Any person, other than the Company or an employee
              benefit plan of the Company, acquires directly or indirectly the
              Beneficial Ownership (as defined in Section 13(d) of the
              Securities and Exchange Act of 1934, as amended) of any voting
              security of the Company and immediately after such acquisition
              such person is, directly or indirectly, the Beneficial Owner of
              voting securities representing 50% or more of the total voting
              power of all of the then-outstanding voting securities of the
              Company;

                     (ii)   The individuals (A) who, as of the closing date of
              the Company's initial public offering, constitute the Board of
              Directors of the Company (the "Original Directors") or (B) who
              thereafter are elected to the Board and whose election, or
              nomination for election, to the Board was approved by a vote of at
              least two-thirds (2/3) of the Original Directors then still in
              office (such directors becoming "Additional Original Directors"
              immediately following their election) or (C) who are elected to
              the Board and whose election, or nomination for election, to the
              Board was approved by a vote of at least two-thirds (2/3) of the
              Original Directors and Additional Original Directors then still in
              office (such directors also becoming "Additional Original
              Directors" immediately following


                                       3
<PAGE>

              their election) (such individuals being the "Continuing
              Directors"), cease for any reason to constitute a majority of
              the members of the Board;

                     (iii)  The stockholders of the Company shall approve a
              merger, consolidation, recapitalization or reorganization of the
              Company, a reverse stock split of outstanding voting securities,
              or consummation of any such transaction if stockholder approval is
              not sought or obtained, other than any such transaction which
              would result in at least 75% of the total voting power represented
              by the voting securities of the surviving entity outstanding
              immediately after such transaction being Beneficially Owned by at
              least 75% of the holders of outstanding voting securities of the
              Company immediately prior to the transaction, with the voting
              power of each such continuing holder relative to other such
              continuing holders not substantially altered in the transaction;
              or

                     (iv)   The stockholders of the Company shall approve a plan
              of complete liquidation of the Company or an agreement for the
              sale or disposition by the Company of all or a substantial portion
              of the Company's assets (I.E., 50% or more of the total assets of
              the Company).

       1.4    PAYMENT OF TAXES.  The issuance of certificates for Warrant Shares
shall be made without charge to the Warrantholder for any stock transfer or
other issuance tax in respect thereto; PROVIDED, HOWEVER, that the Warrantholder
shall be required to pay any and all taxes which may be payable in respect to
any transfer involved in the issuance and delivery of any certificates for
Warrant Shares in a name other than that of the then Warrantholder as reflected
upon the books of the Company.

       1.5    TRANSFER RESTRICTION AND LEGEND.

              (a)    Without limiting the generality of the foregoing, neither
       this Warrant nor any of the Warrant Shares, nor any interest or
       participation in either, may be in any manner transferred or disposed of,
       in whole or in part, except in compliance with applicable United States
       federal and state securities laws.

              (b)    Each certificate for Warrant Shares and any Warrant issued
       at any time in exchange or substitution for any Warrant bearing such a
       legend shall bear a legend similar in effect to the foregoing paragraph
       unless, in the opinion of counsel for the Company, the Warrant and the
       Warrant Shares need no longer be subject to the restriction contained
       herein.  The provisions of this subsection 1.5 shall be binding upon all
       subsequent holders of this Warrant and the Warrant Shares, if any.
       Warrant Shares transferred to the public as expressly permitted by, and
       in accordance with, the provisions of this Warrant shall thereafter cease
       to be deemed to be "Warrant Shares" for purposes hereof.

       1.6    DIVISIBILITY OF WARRANT.  This Warrant may be divided into
warrants representing one Warrant Share or multiples thereof, upon surrender at
the principal office of the Company on


                                       4
<PAGE>

any Business Day, without charge to any Warrantholder, except as provided
below.  The Warrantholder will be charged for reasonable out-of-pocket costs
incurred by the Company in connection with the division of this Warrant into
Warrants representing fewer than one thousand (1,000) Warrant Shares.  Upon
any such division, and, if permitted by subsection 1.5(b) and in accordance
with the provisions thereof, the Warrants may be transferred of record to a
name other than that of the Warrantholder of record; PROVIDED, HOWEVER, that
the Warrantholder shall be required to pay any and all transfer taxes with
respect thereto.

       1.7    RESERVATION AND LISTING OF SHARES, ETC. All Warrant Shares
which are issued upon the exercise of the rights represented by this Warrant
shall, upon issuance and payment of the Exercise Price, be validly issued,
fully paid and nonassessable and free from all taxes, liens, security
interests, charges and other encumbrances with respect to the issue thereof
other than taxes in respect of any transfer occurring contemporaneously with
such issue.  During the period within which this Warrant may be exercised,
the Company shall at all times have authorized and reserved, and keep
available free from preemptive rights, a sufficient number of shares of
Common Stock to provide for the exercise of this Warrant, and shall at its
expense use its best efforts to procure such listing thereof (subject to
official notice of issuance) as then may be required on all stock exchanges
on which the Common Stock is then listed or on the Nasdaq National Market.
The Company shall, from time to time, take all such action as may be required
to assure that the par value per share of the Warrant Shares is at all times
equal to or less than the then effective Exercise Price.

       1.8    EXCHANGE, LOSS OR DESTRUCTION OF WARRANT.  If permitted by
subsections 1.5 or 1.6 and in accordance with the provisions thereof, upon
surrender of this Warrant to the Company with a duly executed instrument of
assignment and funds sufficient to pay any transfer tax, the Company shall,
without charge, execute and deliver a new Warrant of like tenor in the name
of the assignee named in such instrument of assignment and this Warrant shall
promptly be canceled.  Upon receipt by the Company of evidence satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant, and, in
the case of loss, theft or destruction, of such bond or indemnification as
the Company may reasonably require, and, in the case of such mutilation, upon
surrender and cancellation of this Warrant, the Company will execute and
deliver a new Warrant of like tenor.  The term "Warrant" as used herein
includes any Warrants issued in substitution or exchange of this Warrant.

       1.9    OWNERSHIP OF WARRANT.  The Company may deem and treat the
person in whose name this Warrant is registered as the holder and owner
hereof (notwithstanding any notations of ownership or writing hereon made by
anyone other than the Company) for all purposes and shall not be affected by
any notice to the contrary, until presentation of this Warrant for
registration of transfer as provided in subsections 1.1 and 1.5 or in Section
3.

       1.10   CERTAIN ADJUSTMENTS.  The Exercise Price at which Warrant
Shares may be purchased hereunder, and the number of Warrant Shares to be
purchased upon exercise hereof, are subject to change or adjustment as
follows:

       The number of Warrant Shares purchasable upon the exercise of this
Warrant and the


                                       5
<PAGE>

Exercise Price shall be subject to adjustment as follows:

              (a)    In case the Company shall (i) pay a dividend in shares of
       Common Stock or make a distribution in shares of Common Stock (ii)
       subdivide its outstanding shares of Common Stock into a greater number of
       shares of Common Stock, (iii) combine its outstanding shares of Common
       Stock into a smaller number of shares of Common Stock or (iv) issue by
       reclassification of its shares of Common Stock other securities of the
       Company (including any such reclassification in connection with a
       consolidation or merger in which the Company is the surviving
       corporation), the number of Warrant Shares purchasable upon exercise of
       this Warrant shall be adjusted so that the Warrantholder shall be
       entitled to receive the kind and number of Warrant Shares or other
       securities of the Company which he would have owned or have been entitled
       to receive after the happening of any of the events described above, had
       this Warrant been exercised immediately prior to the happening of such
       event or any record date with respect thereto.  An adjustment made
       pursuant to this paragraph (a) shall become effective immediately after
       the effective date of such event retroactive to the record date, if any,
       for such event.

              (b)    In case the Company shall:

                     (i)    Issue rights, options or warrants to all holders of
              its outstanding Common Stock, without any charge to such holders,
              entitling them to subscribe for or purchase shares of Common Stock
              at a price per share which is lower at the record date for the
              determination of stockholders entitled to receive such rights,
              options or warrants than the then current market price per share
              of Common Stock, or

                     (ii)   Distribute to all holders of its shares of Common
              Stock evidences of its indebtedness or assets (excluding cash
              dividends or distributions payable out of consolidated earnings or
              earned surplus and dividends or distributions referred to in
              paragraph (a) of this subsection 1.10) or rights, options or
              warrants, or convertible or exchangeable securities containing the
              right to subscribe for or purchase shares of Common Stock,
              appropriate adjustments shall be made to the number of Warrant
              Shares purchasable upon the exercise of the Warrant and/or the
              Exercise Price in order to preserve the relative rights and
              interests of the Warrantholders, such adjustments to be made by
              the good faith determination of the Board of Directors of the
              Company.

       2.     VOLUNTARY ADJUSTMENT BY THE COMPANY.  The Company may, at its
option, at any time during the term of the Warrants, reduce the then current
Exercise Price to any amount, consistent with applicable law, deemed
appropriate by the Board of Directors of the Company.

       3.     NOTICE OF ADJUSTMENT.  Whenever the number of Warrant Shares or
the Exercise Price of such Warrant Shares is adjusted, as herein provided,
the Company shall promptly mail first class, postage prepaid, to all
Warrantholders, notice of such adjustment.


                                       6
<PAGE>

       4.     NO ADJUSTMENT FOR CASH DIVIDENDS.  No adjustment in respect of
any cash dividends shall be made during the term of this Warrant or upon the
exercise of this Warrant.

       5.     PRESERVATION OF PURCHASE RIGHTS UPON MERGER, CONSOLIDATION,
ETC. In case of any consolidation of the Company with or merger of the
Company into another corporation or in case of any sale, transfer or lease to
another corporation of all or substantially all of the property of the
Company, the Company or such successor or purchasing corporation, as the case
may be, shall execute with the Warrantholders an agreement that the
Warrantholders shall have the right thereafter upon payment of the Exercise
Price in effect immediately prior to such action to purchase upon exercise of
this Warrant the kind and amount of shares and other securities and property
which such holder would have owned or have been entitled to receive after the
happening of such consolidation, merger, sale, transfer or lease had this
Warrant been exercised immediately prior to such action; PROVIDED, HOWEVER,
that no adjustment in respect of cash dividends, interest or other income on
or from such shares or other securities and property shall be made during the
term of this Warrant or upon the exercise of this Warrant.  Such agreement
shall provide for adjustments, which shall be as nearly equivalent as
practicable to the adjustments provided for in this Section 5.  The
provisions of this Section 5 shall apply similarly to successive
consolidations, mergers, sales, transfers or leases.

       6.     REGISTRATION RIGHTS.  Not later than March 31, 2001, the
Company shall file a registration statement covering the Warrant Shares on a
Form S-8, which registration statement shall be effective upon the filing
thereof.  The Company shall use its best efforts to keep such Form S-8
current and effective until the earlier of the Expiration Date or the date
this Warrant has been exercised in full.

       The Company shall have sole control in connection with the
preparation, filing, amending and supplementing of any registration
statement, including the right to withdraw the same or delay the
effectiveness thereof when, in the sole judgment of the Board of Directors of
the Company, the pendency of such registration statement or the effectiveness
thereof would impose an undue burden upon the ability of the Company to
proceed with any other material financing for its own account or any material
corporate transaction, including, but not limited to, a reorganization,
recapitalization, merger, consolidation or material acquisition of the
securities or assets of another firm or corporation; and the Company shall be
required to file a new registration statement or to proceed with such actions
as reasonably may be required to cause the registration statement to become
effective within a reasonable time after the consummation of the event or
transaction which required such withdrawal or delay.

       7.     MISCELLANEOUS.

       7.1    ENTIRE AGREEMENT.  This Warrant constitutes the entire
agreement between the Company and the Warrantholder with respect to this
Warrant and the Warrant Shares.

       7.2    BINDING EFFECTS; BENEFITS.  This Warrant shall inure to the
benefit of and shall be binding upon the Company, the Warrantholder and
holders of Warrant Shares and their respective heirs, legal representatives,
successors and assigns.  Nothing in this Warrant,


                                       7
<PAGE>

expressed or implied, is intended to or shall confer on any person other than
the Company, the Warrantholders and holders of Warrant Shares, or their
respective heirs, legal representatives, successors or assigns, any rights,
remedies, obligations or liabilities under or by reason of this Warrant or
the Warrant Shares.

       7.3    AMENDMENTS AND WAIVERS.  This Warrant may not be modified or
amended except by an instrument in writing signed by the Company and
Warrantholders that hold Warrants entitling them to purchase at least 50% of
the Warrant Shares.  The Company, any Warrantholder or holders of Warrant
Shares may, by an instrument in writing, waive compliance by the other party
with any term or provision of this Warrant on the part of such other party
hereto to be performed or complied with.  The waiver by any such party of a
breach of any term or provision of this Warrant shall not be construed as a
waiver of any subsequent breach.

       7.4    SECTION AND OTHER HEADINGS.  The section and other headings
contained in this Warrant are for reference purposes only and shall not be
deemed to be a part of this Warrant or to affect the meaning or
interpretation of this Warrant.

       7.5    FURTHER ASSURANCES.  Each of the Company, the Warrantholders
and holders of Warrant Shares shall do and perform all such further acts and
things and execute and deliver all such other certificates, instruments
and/or documents (including without limitation, such proxies and/or powers of
attorney as may be necessary or appropriate) as any party hereto may, at any
time and from time to time, reasonably request in connection with the
performance of any of the provisions of this Warrant.

       7.6    NOTICES.  All demands, requests, notices and other
communications required or permitted to be given under this Warrant shall be
in writing and shall be deemed to have been duly given if delivered
personally or sent by United States certified or registered first class mail,
postage prepaid, to the parties hereto at the following addresses or at such
other address as any party hereto shall hereafter specify by notice to the
other party hereto:

              (a)    If to the Company, addressed to:

                            F.Y.I. Incorporated
                            3232 McKinney Avenue
                            Suite 900
                            Dallas, Texas 75204
                            Attention:  Margot T. Lebenberg

              (b)    If to any Warrantholder or holder of Warrant Shares,
       addressed to the address of such person then appearing on the books of
       the Company.

       Except as otherwise provided herein, all such demands, requests,
notices and other communications shall be deemed to have been received on the
date of personal delivery thereof or on the third Business Day after the
mailing thereof.


                                       8
<PAGE>

       7.7    SEPARABILITY.  Any term or provision of this Warrant that is
invalid or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such invalidity or unenforceability without
rendering invalid or unenforceable any other term or provision of this
Warrant or affecting the validity or enforceability of any of the terms or
provisions of this Warrant in any other jurisdiction.

       7.8    FRACTIONAL SHARES.  No fractional shares or scrip representing
fractional shares shall be issued upon the exercise of this Warrant.  With
respect to any fraction of a share called for upon any exercise hereof, the
Company shall pay to the Warrantholder an amount in cash equal to such
fraction multiplied by the current market price (as determined as of the date
of exercise, and with reference to the applicable trading market, in
accordance with paragraph (d) of subsection 5.1) of a share of such stock as
of the date of such exercise.

       7.9    RIGHTS OF THE HOLDER.  The Warrantholder shall not, solely by
virtue of this Warrant, be entitled to any rights of a stockholder of the
Company, either at law or in equity.

       7.10   GOVERNING LAW.  This Warrant shall be deemed to be a contract
made under the laws of the State of Delaware and for all purposes shall be
governed by and construed in accordance with the laws of such State
applicable to contracts made and performed in Delaware.

       7.11   EFFECT OF STOCK SPLITS, ETC.  Whenever any rights under this
Agreement are available only when at least a specified minimum number of
Warrant Shares is involved, such number shall be appropriately adjusted to
reflect any stock split, stock dividend, combination of securities into a
smaller number of securities or reclassification of stock.


                                       9
<PAGE>

       IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly authorized officer.


                                          F.Y.I. INCORPORATED



                                           By:    /s/Ed H. Bowman, Jr.
                                                  ----------------------------
                                           Name:  Ed H. Bowman, Jr.
                                           Title: President and
                                                  Chief Executive Officer

Dated: March 16, 2000


                                       10
<PAGE>

                                   EXERCISE FORM

                   (To be executed upon exercise of this Warrant)


              The undersigned, the record holder of this Warrant, hereby
irrevocably elects to exercise the right, represented by this Warrant, to
purchase __________ of the Warrant Shares and herewith tenders payment for such
Warrant Shares to the order of F.Y.I. INCORPORATED, in the amount of $_______ in
accordance with the terms of this Warrant.  The undersigned requests that a
certificate for such Warrant Shares be registered in the name of
_________________________________ and that such certificate be delivered to
_________________________ whose address is_____________________________________.


Date _________________                      Signature_________________________


                                       11