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Showing posts from July 27, 2008

What Is Title Insurance For And Why Is It Important To Have It

Purchasing a home can already be a stressful and confusing process especially when it comes to understanding all the different closing costs associated with it. When you buy a home or you refinance your mortgage you will be required to buy title insurance before the closing on the new mortgage. The title insurance is there to protect the mortgage lenders from any third party claims on the property, in other words it protects them from any losses that could happen if there is a dispute on the title. There are two different types of this insurance that you need to know about.The first type of title insurance is the one that the mortgage lenders requires you to get to protect them from financial losses should there be an unexpected problem related to the title of the property. This type of insurance will not protect you, the homeowner. This is what the second type is for because it will protect you instead of the lender.The insurance for you is not required but it is a very good idea to …

Ratings Recap: Am. Merchants, LandAmerica, RSUI Indemnity

Standard & Poor's Ratings Services has withdrawn its 'Api' (public information) financial strength rating on American Merchants Casualty Co. - a sister company to Endurance Specialty Insurance Ltd., Endurance American Specialty Insurance Co., Endurance Reinsurance Corp. of America, and Endurance Worldwide Insurance Ltd., all of which have 'A' financial strength ratings. "The withdrawal eliminates possible confusion concerning the assignment of a pi assessment to a part of this interactively rated group," explained credit analyst Taoufik Gharib. "Maintaining a pi assessment might wrongly imply that Standard & Poor's has access only to public information." S&P added that the withdrawal of the assessment should not be viewed as expressing a negative opinion on American Merchants Casualty Co. "given that its financial information is included in the assessment of the overall group's financial strength rating."Standard &a…

Americas Watchdog Expands Its U.S. Investigation of Title Insurance Companies/Home Builders

Americas Watchdog and its National Mortgage Complaint Center are expanding their national investigation of title insurance companies over billing U.S. homeowners. The focus on this investigation will be national or regional U.S. home builders setting up phony title insurance companies and actual title insurance companies charging junk mortgage fees when a consumer gets a mortgage to finance or refinance a home. According to Americas Watchdog, "We think U.S. home builders and title insurance companies gouge most U.S. consumers with junk mortgage fees and we are talking the gloves of on what we see as a multi-billion dollar problem." Homeowners who feel like they were over charged can call the National Mortgage Complaint Center anytime at 866-714-6466 or visit their web site at http://NationalMortgageComplaintCenter.com. (PRWEB) July 29, 2008 -- Am…