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Having spent the past five years doing business exclusively with a leading orginator, LandSafe Inc. is on the cusp of taking its technologically-advanced package of real estate settlement services industrywide.
The Dallas-based collection of five separately incorporated businesses is a wholly owned subsidiary of one of the nation's top mortgage origination firms-Countrywide Home Loans, Calabasas, Calif.
LandSafe was founded when Countrywide purchased a small title company in Southern California and it has now become one of the largest providers of settlement services in the nation. The company expects to add between $23 million and 25 million in pretax revenue to Countrywide's bottom line.
Now, after cutting its teeth providing title, credit, appraisal, flood certification and home inspection services to Countrywide, LandSafe wants to of fer its high-tech approach to settlement services to the entire mortgage industry.
"In as much as we have in the last three years gained a tremendous amount of experience dealing with Countrywide, we are now on the verge of launching our services externally," LandSafe President and Chief Operating Officer Michael Faine told REFT in an Oct. 18 interview.
LandSafe is the parent of five separate companies, each with its own management team: LandSafe Appraisal Services Inc., LandSafe Credit Inc., LandSafe Title Inc., LandSafe Flood, and LandSafe Home Inspections.
Four years ago, the company entered the title insurance business. LandSafe Title set up shop in California, Texas and Florida, piggy-backing on the three largest loan volume areas of Countrywide.
"We were tracking along those lines, trying to get as much business in the pipeline as we possibly...