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Old Republic National Title Insurance announced that it would no longer insure title to property foreclosed by Chase or GMAC after both mortgage servicing companies halted foreclosure sales in 23 states and said they are in the process of reviewing legal filings that may not have been properly notarized or verified.
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In February, when 49 state attorneys and the five banks — JP Morgan Chase, Bank of America, Ally/GMAC, Wells Fargo and Citibank. the banks skip the arduous foreclosure process — they no longer.
· California, Arizona Call For Foreclosure Moratoriums. October 1, 2010.. California Attorney General Jerry Brown is telling JP Morgan Chase to halt all foreclosures in California until this. When you add in the report from the New York Times this morning that Old Republic Title Insurance is no longer selling title insurance on GMAC/Ally.
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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A major title insurance company has stopped insuring homes foreclosed by JPMorgan. of title. Old Republic said in the memorandum that its agents were already reporting written cancellations of.
Old Republic Will No Longer Insure JPMorgan and GMAC REOs 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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