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Countrywide's wholly owned subsidiary plans to offer all lenders closing services over its Web site.
A wholly owned subsidiary of Countrywide, LandSafe Inc., is providing closing services for Countrywide and its affiliates, but the company is also trying to expand its market.
"We have launched our external sales efforts," said Michael Faine, president LandSafe Inc.
LandSafe started its operations for Countrywide Credit Industries Inc., Calabasas, Calif., in 1994 and began to develop its own subsidiaries.
Faine said that for the past seven years, LandSafe has spent time on perfecting and refining its production processes to meet one of the nation's more demanding loan origination customers in Countrywide.
He pointed out that despite LandSafe branching out to work with other lenders, the company still embraces its relationship with Countrywide and does not run from it.
"We do have an arm's length relationship with Countrywide, but at the same time we are responsible for our own program. We've offered and delivered on the program that we developed for Countrywide to the point that it is a much more efficient production process and something that we can bring to the external marketplace as well."
About a year ago, LandSafe began to look at additional...