· Bank of America Becomes Latest Lender to delay foreclosures.. gmac and JP Morgan Chase processors have made similar admissions.. Those concerns have led Old Republic national title insurance, among the nation’s largest title insurance companies, to announce it will no longer write new policies for homes foreclosed upon by J.P. Morgan.
Even lenders with no known problems. to claims by the former owners. GMAC declined to comment, and Old Republic representatives did not return calls. GMAC has acknowledged legal missteps in.
The acquired assets are located within the 17 states in which the company operates and contain mainly non-performing properties, development and construction loans and, lots,
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They hope homes will only get cheaper, or. aggressive financing they might once have used is no longer readily and cheaply available. Chris Flanagan, a managing director for JPMorgan: As many as 7%.
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· Old Republic National Title Insurance, among the nation’s largest title insurance companies, will no longer write new policies for homes foreclosed upon.
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Old Republic National Title Insurance, among the nation’s largest title insurance companies, will no longer write new policies for homes foreclosed upon by J.P. Morgan Chase and Ally Financial’s GMAC Mortgage unit —- a sign that concerns about faulty foreclosure paperwork could now endanger new sales of foreclosed homes.
These agents can’t complete transactions involving mortgages handled by the lenders that have halted foreclosures. And a major title insurance company, Old Republic National, has said it won’t insure foreclosed homes sold by JPMorgan and Ally Financial.
The New york times reported early this month that Minnesota-based Old Republic National Title Insurance Co. told agents that it would no longer insure titles on homes foreclosed on by two of the.
Old Republic Will No Longer Insure JPMorgan and GMAC REOs By Joy Leopold | 10/05/2010 Even more questions about the legality of foreclosure proceedings have prompted Old Republic National Title Insurance to decide it will no longer insure titles to homes foreclosed by JPMorgan Chase and GMAC Mortgage.
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