Wednesday, October 6, 2010

Old Republic National Title Dodges Foreclosures

NOTE: This was written 2 days ago... There was also previously an announcement that Fidelity did not believe the foreclosure fraud would hurt insurance markets. Market Ticker also had article about Title Insurance that is worth reading.

Old Republic National Title Dodges Foreclosures: "One of the nation's largest title insurance companies, Old Republic National Title, said it will no longer insure titles for the nation's two biggest lenders, Chase and GMAC.

So, are some foreclosures being questioned? Do the people who were kicked out of those homes still own them?

Mortgage broker Dean Wegner says this announcement undermines confidence in the housing market. When a major title company steps back from dealing with foreclosures, potential buyers tend to get nervous.

Wegner says this sends the wrong message. 'What it says is here's a company that's skeptical of doing business on a foreclosure transaction. >>>> click on title link to read full article

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