LandAmerica Financial Group Inc., Richmond, Va., has announced an agreement to purchase LoanCare Servicing Center Inc., a mortgage loan subservicing company based in Norfolk, Va.The terms of the agreement were not disclosed. LandAmerica said LoanCare subserviced approximately 45,000 loans with principal balances of approximately $5 billion in 50 states and the District of Columbia as of Sept. 30. "This move is a strategic step toward reaching LandAmerica's goal of becoming the premier provider of real estate transaction services," said Charles H. Foster Jr., chairman and chief executive officer of LandAmerica. The company can be found online at http://www.landam.com.
-
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
6m ago -
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24