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Bailout
: Calculated RiskForeclosure-Gate: Title Insurers Drop Demands
By Anonymous
Three major title insurance companies - First American Financial, Old Republic International and Stewart Information Services - told Wall Street analysts in conference calls Thursday that they had decided not to demand written indemnifications from lenders re-selling foreclosed homes. Combined, the three companies account for 52 percent of the title insurance market.This is means that the buyers of REO (lender Real Estate Owned) will be able to obtain title insurance, and that the new owner can sell the property. There was some concern that buyers would shy away from REOs.
Full post as published by Calculated Risk on October 29, 2010 (boomark / email).
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