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WEEKLY ROUNDUP-THE FORECLOSURE DEBACLE and INSURING YOUR REO PROPERTY
I have had a busy week and am feeling a little like I am in "information overload". It seems that, at month end, if a file can go to hell, it certainly will; and this month has been no exception to that rule.  
I have read several new bulletins from various underwriters and several news articles relating to the foreclosure debacle.
As always, I remind you that you need to INSIST that your buyer protect their assets by having their REO transaction handled by a title agent who is very well versed in transferring title out of REO and who has NO AFFILIATION with the seller in these transactions.  There should be no actual or perceived conflict of interest between the agent insuring title on the REO property and the seller.  As an example, the use of the seller's title agent, which is generally a title agent whose office is either owned by or controlled by the foreclosure mill, is an actual conflict of interest.  
Now let's move on with the weekly roundup of articles and bulletins:
 
Fidelity National has issued bulletins to their agents advising that they have entered into indemnityagreements with B of A and that they are going to allow their ... more

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