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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 ALERTS
First
Magnus
Financial
Corp
(First
Magnus)
recently
issued a
press
release
announcing
that the
company
will not
fund any
future
mortgage
loans
and is
no
longer
accepting
loan
applications
or
funding
any
mortgage
loans
previously
originated
and not
yet
funded.
Thornburg
Mortgage’s
president
told
CNBC
that
“the
mortgage
lender
is
having
problems
raising
financing”
but that
it will
not be
filing
for
Chapter
11
protection.
Thornburg
has so
far been
able to
meet all
of its
obligations.
An
update
on
HomeBanc
– an
Atlanta
mortgage
banking
company,
announced
it is
bowing
out of
the
lending
business
and
announced
its
filing
for
Chap. 11
protection.
Many of
you
heard
Countrywide
in the
news
yesterday.
Click
here
for an
article
on their
situation.
With so
many
lenders
in the
news
lately,
we are
strongly
encouraging
our
agents
to only
accept
wired
funds
from
lenders
to close
transactions.
While
this is
not an
underwriting
directive,
we feel
that it
is best
for your
company
to
guarantee
all
funds
are in
your
account
prior to
disbursing.
Should
you have
any
questions,
please
contact
our
underwriting
counsel
Steve
Gratman,
Sue
Swick
or
Dwight
Edwards
either
via
e-mail
or call
800-842-2080.
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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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