We may have missed this on the boards and it also may be common knowledge but I don't think so. Since after polling some of our clients, they had no knowledge.
Our company fixes & retrieves missing title policies & satisfactions for lenders across the country and we have run across a situation where since 12-2004 one of our lenders has been unable to obtain a policy from the issuing title company. This is not so unusual. However the title company went under and left them hanging with just a commitment - no lender policy which was paid for at closing.
After further investigation the underwriting national title insurer has closed its doors so to speak and is in what is called a declining mode. No phone Nada.
The name is Southern National Title Insurance Co. Their web site is pretty much a shell. Telephone is disconnected etc.
I have spoken to my contact a the Mississippi State Department of Insurance and he would like to know how many policies are still to be issued and who or what lenders and or agents this is affecting.
If you would like to email us, we will forward your information on to our contact. aircastle1@sbcglobal.net Telephone # 817-923-9953
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