Too funny! Seems so obvious to us.

Yes, I am working this morning. 4 orders due tomorrow for LA.
Have you noticed, the slower the market the more ridiculous their requirements get. Sold comps within 3 months, no REOS. What next? Sold within 2 weeks in a 2 block area with +/- 5% for square footage. OR ELSE EXTENSIVE COMMENTS ARE REQUIRED. Can't they understand that we always use the best comps available? Can't that be assumed on every order? Do we have to say it on every single order?

The Ventor

MassBPOer, you seem to be venting over requirements for several companies. They understand that the requirements cannot always be met, but saying "best comps available" were used, you kind of have to explain why they are the best comps. Take a step back and see if there is a better way to say what you are saying.

BPOs shouldn't be so frustrating that you begin to sign every post here with "The Ventor." Try to have a Happy Thanksgiving, and find a way to make your life easier.

I think its the lack of space to make the appropriate comments that has got MassBPOer going. It's also knowing that even if you manage to comment extensively (and those are their words) they still won't bother to read the comments and you'll be QC'd to death. If it were some other company (say CC) with these particular requirements it wouldn't be so bad, at least you'd have the space to write those extenseive comments. Actually, I think the frustration isn't the information requested, it's a form design flaw.

The simple way around that is to attach an external document and make all the comments they want.

I never had any QC issues with LandAm, even though it's impossible sometimes to bracket all parameters, so comments are used and all orders are accepted. Better yet, I was unable to get an External Attachment for MLS closed sale sheet (my printer acted weired yesterday), so I put a comment "External Attachment is not available due to tech.issues, sorry!". All rush orders were accepted without any questions about stupid external attachment missed.

Bunny - your printer?! Sounds like you need to read the first thread in this forum, "Tips and Tricks." All you need is a free PDF printer, and you can help save a tree.

TB You're right. Sorry, but I just needed a place to vent. I will just have to explain to them, in a more extensive way, how I chose my comps.

Vent No More,

Well maybe once in a while, LOL.

They are at it again. Now that the checks have stopped bouncing I guess they feel it is OK to call every day to confirm order will be done on time. Who do they think they are? RRR

When you are trying to close a deal, how many times do you call the mortgage broker, underwriter or escrow officer to check on the status? Same thing.

By Carol Hazard

Published: December 17, 2008

The U.S. Bankruptcy Court in Richmond yesterday approved the sale of LandAmerica Financial Group Inc.'s core operations to Fidelity National Financial Inc. of Jacksonville, Fla.

Stewart Title Guaranty Co. of Houston, the other suitor for the Henrico County-based company's main subsidiaries, was shut out of the deal.

Judge Kevin Huennekens picked up on comments made by attorneys in an overflowing courtroom on LandAmerica's deteriorating financial situation. "Like a melting ice cube, it is going fast," he said.

Huennekens said he was keenly aware of the need to move swiftly on the sale as the only chance for the two underwriters' survival.

The underwriters are LandAmerica's title insurance subsidiaries, Lawyers Title Insurance Corp. and Commonwealth Land Title Insurance Co., which are registered as Nebraska firms.

"I don't find the Stewart Title deal to be credible," Heunnekens said. "It is so conditional that I don't see how it could close by Dec. 22."

Fidelity has said it would walk away from a deal if it can't close by Dec. 22.

Fidelity's $282 million offer includes $157 million to recapitalize the subsidiaries so they can continue operating, according to papers filed Monday with the Nebraska Department of Insurance.

Its cash offer was enough to finance LandAmerica's pension shortfall of $59 million, lawyers for LandAmerica argued. Topping off the pension fund would be a requirement of any deal, they said.

Stewart Title's $256 million offer included $5 million in cash, $41 million in restricted stock in the parent company, $10 million in subordinated notes and a $157 million infusion in the subsidiaries.

Lloyd Osgood, spokeswoman for LandAmerica, said the company is pleased that the judge approved the sale to Fidelity.

"We are optimistic that the [Federal Trade Commission] will permit the deal, which will clear the way for us close on Dec. 22."

FTC approval was Stewart's trump card in claiming it had the better offer.

A lawyer for the FTC said Fidelity's market share with the acquisition would pose substantial risk to competition.

Fidelity's national market share would rise from 26 percent to nearly 46 percent of the title insurance business. Stewart's would have 32 percent of the market, up from its current 12 percent.

Nebraska insurance Commissioner Ann M. Frohman, in Richmond yesterday for the hearing in bankruptcy court, ruled Monday in her state that both companies could proceed with their offers.

She said Commonwealth and Lawyers have precariously low capital levels and their financial conditions are so precarious that their sale needs to be approved immediately.

Lawyers from across the country packed the courtroom, many representing clients who had parked money in LandAmerica's bankrupt 1031 exchange company.

Exchange companies are a way to defer capital gains taxes until investors find other properties to buy.

LandAmerica's 1031 assets were frozen two days before it filed for bankruptcy protection Nov. 26.

About 50 of 450 clients had their money in individual, or segregated, accounts. The other money was commingled or lumped together.

The judge was expected to rule on whether LandAmerica could proceed on settling the $227 million in the segregated accounts, which generally were the largest investments.

Lawyers for people with money in commingled accounts said their clients faced the same tax consequences and should receive the same consideration as people with segregated accounts.

It was unknown yesterday evening whether a decision was made regarding the settlement of these accounts.
Contact Carol Hazard at (804) 775-8023 or .

When you are trying to close a deal, how many times do you call the mortgage broker, underwriter or escrow officer to check on the status? Same thing.



Why didn't you post this on 6/5/08?

$45 BPO = Closing

LOL LOL LOL

actually my mortgage broker will call me with any problems, we have developed that trust over numerous transactions. But then again, he cuts through the crap, and tells me what is really up, unlike these bpo companies, that say 5 day exterior order, that is due in 2 days, or we are late and penalized in their system, when it then sits in QC for 2 more days just to have someone rubber stamp it. I mean really, hire a few more people, or train the ones you have to work more efficiently. Thats what i have to do, so should they.