Tags

, , , , , ,

Old Republic Title Insurance issued the following directive to its title insurance agents:

“A Fund Member should not close and insure any transaction where the title search  and examination depends upon the outcome of a lawsuit seeking to extinguish an outstanding mortgage without obtaining approval from The

Fund’s Legal Underwriting Department.”

“There remains a significant body of precedent that suggest that these terminator judgments would not operate as res judicata or law of the case in a subsequent proceeding filed by the mortgagee to enforce the mortgage.”

 

Fund Concept March 2012 

Advertisements