Old Republic Will No Longer Insure JPMorgan and GMAC REOs

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.

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REO stands for real estate owned and occurs when a house goes into foreclosure after a property owner cannot make principal and/or interest payments on a loan. The property then goes through the foreclosure process and is placed for sale by auction. If the opening bid is not met, the property becomes a REO or real estate owned.

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Florida law firm fires 14 employees for wearing orange Old Republic Will No Longer Insure JPMorgan and GMAC REOs Nevada: Foreclosure-Gate Causing Chaos In The Mortgage Industry.. 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.

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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.

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