This is in addition to the 23 states in which J.P. Morgan Chase, Bank of America, and GMAC Mortgage (now Ally Bank) have frozen foreclosures. (In another development late last week, Old Republic.
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Old Republic National Title Insurance announced that it would no longer insure title to property foreclosed by Chase or GMAC after both mortgage servicing companies halted foreclosure sales in 23 states and said they are in the process of reviewing legal filings that may not have been properly notarized or verified.
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And a major title insurance company, Old Republic National, has said it won’t insure foreclosed homes sold by JPMorgan and Ally Financial. It says it worries that flawed foreclosure paperwork could put the home’s ownership in doubt.. Matt Vernon has been named short sale and real estate owned (REO) executive for Bank of America Homes Loans.
The GSE acquired 24,799 REO properties through foreclosure over the April-to-June timeframe, adding to the 65,174 already on its books. REO dispositions, however, outpaced acquisitions for the quarter. Freddie sold 29,355 REOs during the three-month period.
And the parabolic rise in the energy partnership ETN, JPMorgan. insurance companies, Old Republic National Title, has sent a bulletin to agents saying that “until further notice” it would not.
But all of the sudden, the importance of title insurance is becoming crystal-clear. In recent weeks, big lenders like GMAC Mortgage, JPMorgan Chase and Bank. were growing concerned as well. On Oct..
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Old Republic National Title Insurance has thrown a monkey wrench into the ability of lenders to sell their foreclosures: on September 29, the company announced that it will no longer issue policies to properties that have been foreclosed by JP Morgan Chase and Ally Financial, Inc. (GMAC).
Falling mortgage rates may already be lifting home prices Mortgage rates have moved in a very narrow range throughout most of the year, so the drop last week was unlikely to make a difference to buyers who are facing bigger price gains and very few choices.
Old Republic National Title Insurance Company released a bulletin to its agents that it would cease to insure title to properties that were foreclosed by GMAC and Fidelity National Title Insurance Company entered into a Master Indemnity Agreement with Bank of America to "facilitate the underwriting process of insured sales in which Bank of.