LandAmerica OneStop and First Am eAppraiseIT consolidate

[Matt Barr]

LandAmerica Financial Group, Inc. announced today it had formed a joint venture with The First American Corporation to consolidate LandAmerica OneStop (formerly Primis) and First American’s eAppraiseIT operations, forming the nation’s largest provider of real estate valuation services. Financial terms were not disclosed. While LandAmerica will continue to offer appraisal service to national accounts under the OneStop name, the company will exit the local appraisal production business, which had historically been unprofitable, the company said in a release. LandAmerica will close its service center in Alpharetta, GA, and release all local appraisers from existing contracts.

http://www.appraisalintelligence.com/news/...ines/213-1.html

 

[Michael Reilly]

Must be nice to lose $40,000,000 in a 2 year span and then give up the biz to your largest competitor.


MReilly NY