As a result of this mortgage document fiasco, one title insurance company, Old Republic National Title Insurance, has announced that it will no longer write new insurance policies for homes that have been foreclosed on by JPMorgan Chase and GMAC Mortgage.
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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.
Pulte Mortgage LLC (“Pulte Mortgage”), a wholly-owned subsidiary of PulteGroup, Inc. ("PulteGroup"), entered into an Amended and Restated Master Repurchase Agreement (the “Repurchase Agreement”) with.
There is no prohibition on writing title insurance on short sales or following a deed-in-lieu of foreclosure involving these lenders or any prohibition against insuring titles where a mortgage foreclosure by Ally Bank/GMAC, JP Morgan Chase or Bank of America appears in the back chain of title.
Household debt in the U.S. – the money we owe as individuals – zoomed to more than 130% of income in 2007, up from about 60% in 1982. We enjoyed living beyond our means – no wonder we wanted to.
California, Arizona Call For Foreclosure Moratoriums.. California Attorney General Jerry Brown is telling JP Morgan Chase to halt all. When you add in the report from the New York Times this morning that Old Republic Title Insurance is no longer selling title insurance on GMAC/Ally.
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The lack of REOs has caused turmoil in our industry. REO service providers struggling to survive during this drought. Make no mistake: Loan servicers, outsourcers, title companies, attorneys, field services companies, real estate brokers, and closing services providers are all struggling today due to lack of business volume.