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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
Fieldstone
Mortgage
Company
(Fieldstone)
issued a
press
release
late in
the day
Wednesday
announcing
that the
company
is
running
out of
cash and
is no
longer
accepting
loan
applications.
The
release
said the
company
will
continue
to fund
loans
for
which it
has
committed.
The
company
says it
has
access
to lines
of
credit
to fund
additional
loans.
Accredited
Home
Lenders
(Accredited)
yesterday
issued
its
long-delayed
annual
report
in which
it made
several
references
to its
questionable
ability
to
continue
in
business
if a
pending
merger
with the
Texas-based
private
equity
firm,
Lone
Star
Partners,
is not
completed
soon.
As a
result
of these
disclosures,
no
Old
Republic Title operations
or
agents
should
close
any
loans
involving
either
Fieldstone
or
Accredited
unless
they
have
good
funds in
their
escrow
account
for the
loan.
For
purposes
of this
Bulletin
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.
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.
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