LandAmerica Financial Group has bought MSTD, a Web-based company whose flagship product is default mortgage servicing technology, the company said Monday. Baltimore, Md.-based MSTD, founded in 1999, is an application service provider providing a Web-based default servicing platform to residential mortgage servicers. BackInTheBlack, the company's flagship product, is a business intelligence system used by some of the nation's largest financial institutions as well as other lenders with significant loan portfolios, LandAmerica said. The technology combines rules-based decision engines with embedded workflows and integration of all third-party providers and services used by lenders managing delinquent loans, according to LandAmerica. "Our default management clients are increasingly challeng...
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