LandAmerica Financial Group Inc. experienced a loss in net income and total revenue during the third quarter of 2007, according to a report released by the company Wednesday.
In the report, LandAmerica says its total revenue dropped 8.6-percent in the third quarter of this year when compared to the same quarter last year.
This drop the company said, “reflected the sharp decline in residential mortgage originations during the quarter offset in part by the merger with Capital Title and strong commercial revenue. As estimated by the Mortgage Bankers Association, industry-wide residential mortgage originations declined by approximately $147 billion, or 21.1-percent, in third quarter 2007 from the comparable period in 2006.”
Since its launch, DS News magazine has positioned itself at the forefront of an
evolving industry. Always current with the most up-to-date
default servicing news, DSNews.com keeps you informed through daily Web casts,
community forums, and a wide range of industry resources.