Old Republic Will No Longer Insure JPMorgan and GMAC REOs

Would you buy a foreclosed home now, knowing full well the title may be clouded by mortgage fraud? I wouldn’t. Anyone who would without title insurance is asking for a huge legal mess. Moreover,

How about some private mortgage insurance and title insurance news? The industry is certainly waiting for. MGIC is the nation’s largest private mortgage insurer. Old Republic Title Insurance Group.

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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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One major title insurance company, Old Republic. by GMAC Mortgage, the country’s fourth-largest home lender and one of the two institutions in the controversy, The Times said. GMAC has acknowledged.

Old Republic National Title Insurance, has already declared that it will no longer write new policies for homes that have been foreclosed on by JPMorgan Chase and GMAC Mortgage. So what happens if.

Old Republic, the fourth largest title insurer, has clarified its policies on insuring Ally Bank/GMAC and JP Morgan Chase foreclosure transactions, and has partially reversed an earlier pronouncement that it would refrain from insuring all Ally/GMAC foreclosures.

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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.

Some of the leading lenders and mortgage servicers — including Bank of America, JPMorgan Chase, and GMAC Home. might take longer than you’d hoped. Title insurers are looking more carefully at the.