Old Republic Will No Longer Insure JPMorgan and GMAC REOs

 · 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.

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4 days ago. acquired republic mortgage home loans. Ally (GMAC) – said it's officially done with the mortgage business. Arch Capital – acquired cmg mortgage insurance Co.. Bank of America – reportedly closing old Countrywide Mortgage.. Castle Point Mortgage – will no longer accept wholesale broker.

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.

REO Listings of Bank Owned Property Directory. Below are links to the Bank foreclosures and REO listings of every major bank, lender and government foreclosure agency. REO (Real Estate Owned) are properties currently owned by lenders & banks, because the borrower defaulted on the loan, and the lender took them back by foreclosure.

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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). Further, Old Republic will not write title on properties which [.]

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.