In the news ... Friday, August 24, 2007

Mid-Atlantic Area



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



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



Columbia Corporate Park

8850 Stanford Blvd., Suite 2900

Columbia, MD  21045

(410) 953-6763

(800) 664-8306

(410) 953-6761 - fax



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

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.


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. 


Old Republic Title Update is published by the Mid-Atlantic Area Office of Old Republic National Title Insurance Company in an effort to provide information relative to our industry on a timely basis. None of the materials included in this publication should be deemed legal or underwriting advice or should be acted upon without prior consultation with your underwriter or counsel.