Items Tagged with 'LandAmerica Financial Group Inc.'

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  • Fidelity National Posts Narrowed $1.7 Million Quarterly Loss

    Fidelity National Financial Inc. [stock FNF][/stock] on Wednesday posted a $1.7 million quarterly loss -- or 1 cent per share -- narrowed from the $44.9 million loss posted in the year-ago quarter. The Jacksonville-Fla.-based title insurer reported a total 2008 net loss of $165.8 million -- or 79 cents per share -- compared with the $129.8 million profit posted for all of 2007.
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  • Fidelity National Unveils Ultimatum on LandAmerica Deal

    Fidelity National Financial Inc. [stock FNF][/stock] revealed Monday a strict step-by-step plan for acquiring LandAmerica Financial Group  Inc.'s title insurance underwriters, Commonwealth Land Title Insurance Co., Lawyers Title Insurance Corp. and United Capital Title Insurance Co.
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  • No Deal: Fidelity Calls off LandAmerica Merger

    Fidelity National Financial, Inc. [stock FNF][/stock] said very late Friday after market close that it had chosen to terminate its merger agreement with troubled title insurance conglomerate LandAmerica Financial Group, Inc. [stock LFG][/stock], citing a "contractual due diligence termination right." The merger agreement gave Fidelity sole discretion to terminate the merger on or before Nov. 21, after first announcing the pending deal on Nov. 7.
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  • LandAmerica Posts $600 Million Q3 Net Loss

    LandAmerica Financial Group Inc. [stock LFG][/stock] reported that weak mortgage activity drove a quarterly net loss of $599.6 million, or $39.45 per share, in its third-quarter earnings statement, released Monday morning. Total revenue decreased by 30.3 percent, and direct revenue from title and non-title commercial operations declined by 40.1 percent -- in other words, it was a pretty bad quarter.
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  • Fidelity National to Acquire LandAmerica

    One day after postponing its third quarter earnings report, title insurer LandAmerica Financial Group, Inc. [stock LFG][/stock] said Friday morning it would be acquired by competitor Fidelity National Financial Inc. [stock FNF][/stock], the first major merger/acquisition to hit the title insurance side of the business as a result of the nation's housing crisis.
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  • LandAmerica Delays Third Quarter Earnings

    In a move that is raising a few eyebrows in the real estate space, LandAmerica Financial Group, Inc. [stock LFG][/stock] said Wednesday after market close that it would delay the release of its third quarter 2008 results, and cancel its investor call; the title insurance company was scheduled to report earnings yesterday.
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  • Firms Jockey for TARP Contracts

    While the U.S. Treasury is busy putting advisers and custodial agents in place to help manage the Troubled Asset Relief Program, more than a few industry firms are wondering what the U.S. government involvement in the mortgage space will mean for those that manage defaulted loans, as well as those that provide key services to the default management industry.
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  • LandAm Rebrands United Title

    LandAmerica Financial Group, Inc. [stock LFG][/stock] said last week that United Title Company, one of the company's operating units, is now doing business as LandAmerica Title Company. The change became effective on Oct. 1. This change reflects a strategic shift at the title insurance giant, which has been moving to integrate its collection of oft-independent businesses under the rubric of a single operating company.
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  • LandAmerica Rolls Out Loss Mitigation Automation

    Need proof that loss mitigation is big business for vendors in mortgage banking these days? Look no further than the major title companies, which have been moving quickly to put together technology platforms that can help servicers manage a growing inflow of troubled borrowers -- with more on the way.
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  • LandAmerica to Merge Underwriting Subs

    LandAmerica Financial Group, Inc. [stock LFG][/stock] said Monday afternoon that it would merge its Transnation Title Insurance Company subsidiary into its Lawyers Title Insurance Corporation subsidiary, as the company pursues what it called an "integrated and unified operating company." The process will leave the title services giant with two major title underwriting platforms: Lawyers Title and Commonwealth Land Title Insurance Company.
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