Industry NewsMortgage

Title cos. want promises from ‘robo signing’ lenders

Report: Bank of America will provide warranties to Fidelity
Published on Oct 12, 2010

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by CareyBot

In addition to satisfying federal and state regulators that they're following the letter of the law, lenders embroiled in the "robo signing" scandal may soon have to provide warranties to title insurers in order to continue selling foreclosed homes.

Bank of America has already agreed to provide warranties to Fidelity National Financial Inc. that cover the title insurer's costs if employees processing foreclosure documents for the bank make mistakes, Bloomberg News reports, and is in talks with other title insurers to do the same.

In a weekly e-mail to members Monday, American Land Title Association CEO Kurt Pf

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