Daily Archives: August 9, 2015

Bank of America selling appraisal business

Bank of America (BAC) sold its appraisal management company LandSafe to CoreLogic (CLGX) for $70 million, according to industry sources. LandSafe employees were notified this week about the sale.

The sale answers industry rumors that first broke out in May, with top names like Solutionstar, Fidelity and Solidifi in the running to buy the company.

LandSafe Closing Services companies are affiliated with Bank of America to provide closing services, including appraisal, credit report and verification. Only the appraisal company of LandSafe was sold.

In the wake of the financial meltdown, the government sought to reform the appraisal process with the adoption of the Home Valuation Code of Conduct and by introducing appraisal management companies to ensure “arms-length” transactions.

Read on.

Watch Jon Stewart’s Sickest Wall Street Burns

Screen Shot Jon Stewart Wall Street

I will certainly miss Jon Stewart of the Daily Show…

Watch the video. Click here.