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LandSafe Hits Historic Highs.(Brief Article)

Mortgage Servicing News

| March 01, 2003 | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

LandSafe Inc. here said it had the best results in the company's history for 2002, whether measured by total revenue, earnings before income taxes or by the total number of orders processed or closed.

The company had total revenue of $159 million and earnings before taxes of $70 million. It is a subsidiary of Countrywide Financial Corp., Calabasas, Calif.

In 2001, LandSafe had total revenue of $129 million and earnings before income taxes of $61 million.

Total orders closed in 2002 for credit reports, appraisals, flood determinations, inspections and title products reached 9.4 million, which is 56% more than the number of orders closed in 2001.

Michael Faine, president and chief operating officer of LandSafe, credited the refinance boom and the company's technology for its growth. "The 2002 milestones included four straight months - July through October - of record production and our first ...

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Source: HighBeam Research, LandSafe Hits Historic Highs.(Brief Article)

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