Here's a little news story to chew on from WWBT 12 in Richmond VA. where Landam is headquartered (formally known as Lawyers Title Co.)
A retiree from Landamerica went to get his prescriptions renewed and found out that LA has cancelled the health and life insurance benefits for retirees without notice. Further investigation confirmed this with other retirees that letters started to arrive on Friday. No response from LA to the station at this point.
Anybody have that funny feeling about outstanding invoices?
Jim

Which companies will take up the slack left by Landamercia?

Guess would be anyone running the same software platform as Landam. Clients would see the same reports hence less uphieval for them.

My business model change in the 1Q08 so LAndam was not a client for me going forward. However once in a while I would take a job just to experience the "CALL" asking me to commit to a 12 hour completion since their client had to have it immediately. I would agree if the fee was $125. They said they could pay that, then I said you will get to what the contract is, 48 hours for the fee.

Now I am not an internal BPO contract specialist however I think that if Landam gets the work to the client at an accelerated pace then there is a bonus of 25 to 50% for Landam. So lets say that they get $200 from lender for completed BPO, then 25% bonus in effective pays for the agent's fee. At least Landam paid me for my work.

Know that if I was EML I would be pounding on LAndam's clients for the business.

LAndam has made the decision to save the Title business and throw everything else overboard. Why, the bankruptcy will take all their energy and it looks good to the court to focus on their core business.

Interesting time for the industry.

I actually tried signing up with them about a month ago. I went through the application process and the end stated that I would recieve and email shortly with login information, but it never came. Hmmm...

I actually had a lender today say they would not use LandAm to close a deal we are ready to get docs drawn on. They said you need to pick a new escrow company and have the file transferred. My client is going to have a lot of delays if several lenders go this route...

Anyone else have this issue??

I received a letter yesterday regarding the bankrupsy of LandAm. Asking if I had any objections. So I guess it's already begun.

Did you go to the North Pole for Thanksgiving? LOL. You might want to google "Land America Bankruptcy" (note the spelling) and catch up on your reading.

And what position do you hold that you get to object?

Yes. I am going through the same thing. The lender won't draw docs unless we can get an owners title policy elsewhere. We use Landam all the time so I expect more delays.