LandAmerica Default Services Acquires 3 Arch Financial Services Corporation
December 8, 2004
Richmond, Virginia – LandAmerica Financial Group, Inc. (NYSE: LFG), a provider of real estate transaction services, through its subsidiary LandAmerica Default Services Company (LADS), announces the purchase of 3 Arch Financial Services Corporation. 3 Arch Financial Services is based in Irvine, California, with offices in New York.
Through two of its founding shareholders, Shawn Miller and Steven Davis, 3 Arch Financial Services has provided clients with decades of collective mortgage default experience and a full platform of services. Miller and Davis will remain with the company following the acquisition.
“This is a great opportunity for our customers,” said Miller. “We are now able to offer clients the full range of default services backed by the financial strength of a Fortune 500 company.”
“We are excited to have 3 Arch Financial Services join the LandAmerica family of companies,” said Carl Brown, President of LandAmerica Default Services. “It is a solid company with an excellent reputation for delivering superior customer service. Together, we can expand and prosper.”
Source: LandAmerica Financial Group, Inc.