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Mid-Atlantic
Area
Pennsylvania
Three Glenhardie Corporate Center
1265
Drummers Lane, Suite 220
Wayne,
PA 19087
(610)
687-8020
(800)
842-2080
(610)
687-6056 - fax
Calder
Square
P.O.
Box 10326
State
College, PA 16805-0326
(814)
238-3600
(814)
238-3604 - fax
125
Technology Drive, Suite 101
Canonsburg, PA 15317
(866)
364-2777
(724)
746-5434 - fax
Delaware
32
The Green
Dover,
DE 19901
(302)
734-3570
(800)
722-0784
(302)
734-3254 - fax
The
800 King Street Building
800
King Street, Suite 304
Wilmington,
DE 19801
(302)
661-1997
(302)
661-1996 - fax
Maryland
Columbia Corporate Park
8850 Stanford Blvd., Suite 2900
Columbia,
MD 21045
(410)
953-6763
(800) 664-8306
(410) 953-6761 - fax
Virginia
9303
Center Street, Suite 101
Manassas,
VA 20110-5547
(703)
365-2300
(800)
232-6817
(703)
365-2400 - fax
1503 Santa Rosa Road, Suite 233
Richmond,
VA 23229
(804)
288-4090
(888) 859-922
(804)
288-4092 - fax
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Lender Alert
Lehman
Brothers,
the
parent
company
of
BNC
Mortgage
LLC
announced
recently
that it
will
close
BNC
Mortgage
and that
BNC will
not
accept
any new
loan
submissions
and will
be
returning
any loan
files
that
have not
been
approved.
Yesterday’s
release
indicates
that BNC
will
complete
loan
applications
on which
approval
has
already
been
granted.
As a
result
of these
announcements,
no Old
Republic
Title
agents
should
close
any
loans
involving
BNC
Mortgage
LLC
unless
they
have
good
funds in
their
escrow
account
for the
loan.
For
purposes
of this
Alert
the term
“good
funds”
should
be
construed
to mean
that the
funds
for the
loan
have
actually
been
received
by the
bank and
have
been
credited
to the
appropriate
escrow
account.
You
should
also
contact
your
bank to
ensure
that no
wired
funds
can be
reversed
without
prior
notification
to you.
Also,
click
here
for an
update
on
Countrywide's
situation.
Should
you have
any
questions,
please
contact
our
underwriting
counsel:
Steve
Gratman;
Sue
Swick
or
Dwight
Edwards.
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Please contact
Sue Morgan at Old Republic Title with any
questions
or give us a call at 610-687-8020 or
800-842-2080.
To unsubscribe
to this newsletter, please
click here. |
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