From what I have seen around here, the foreclosure mills also operate title agencies that write the policies on their foreclosures. They aren't really doing a very good job of clearing title, in fact, it appears they are making matters worse!
I wonder if the underwriters are getting a little nervous about these now? I am kind of surprised the underwriters don't have a problem with the conflict of interest with this arrangement, but then again, it is captive business and they make a ton in premiums.
Also, it seems typical around here for the selling bank to pay for the owner's title policy - I wonder if Bevilacqua has one.
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