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Republic Mortgage Insurance Rating Poor

Old Republic is a title insurance company doing business in Florida. Old Republic may have other business interests however, for this article, we are looking at Old Republic’s subsidiary Republic Mortgage Insurance Company. See full copy at The Property Patrol.

Started in 1972 Republic Mortgage Insurance Company claims they protect lenders across the United States from losses due to defaults on first mortgages for single-family residential properties. Head-quartered in Winston-Salem, North Carolina, RMIC is an independent national provider of private mortgage insurance for first mortgage loans. It appears RMIC has over exposed themselves  in Fannie Mae and Freddie Mac mortgages.

The Florida division of Republic Mortgage Insurance of Florida has been down-graded in their financial strength to an (E) rating. Financial ratings are based on an (A) being the best and an (F) as a failed institution. So a rating of an (E) is the last step before failure.

In American housing, the chart below shows what areas Old Republic is exposed and Republic Mortgage Insurance Company is included in the chart calculations.

old re[ublic, property patrol, the property patrolOld Republic American Housing Interests

February 26, 2011 Posted by | Uncategorized | , , | Leave a comment

Florida Title Companies Loose License

This came from our sister site: http;//thepropertypatrol.com/ You can read the other posts showing even more title companies in license trouble.

Some Florida Real Estate Title companies have lost their license. Under new leadership, Florida’s Jeff Atwater, Chief Financial Officer cracks down on violators of Florida licensing laws.

Real Estate Title companies hire abstracters to research property titles. The title insurance company issues a title policy based on the abstracter’s report. When possible improprieties occur, the chief financial officer is held accountable. Usually, the title company, not the abstracter, has done something to violate Florida financial laws and the title company is disciplined.

Below is a list of Florida Real Estate Title companies that have been fined or had their license suspended or revoked due to alleged improprieties.

Company Name              Location                     Action Taken

Citrus Land Title,          Spring Hill               Suspended 3 mos.
Emerald Title                 Tamarac                    Suspended 3 mos.
Fellowship Title            Bunnell                      Suspended 3 mos.
LMT Title of So. FL     Miami                         Suspended 3 mos.
People’s Title                 Tampa                        License Revoked
Trinity Title                    Hialeah                      Suspended 3 mos.

If you need more information regarding the disciplinary actions against a company or individual, please comment in the post or click the contact The Property Patrol link here.

February 25, 2011 Posted by | Uncategorized | , , , | Leave a comment

Bank Failures Continue in 2011

Detective Krum

Bank Failures Continue in 2011 in spite of press reports claiming improved economic conditions. January 2011 saw  eleven bank failures in January 2011 and three already in February 2011.  The list of failed banks for 2011 appears below.

A little off point: The Tea Party has started a new social networking site. What we found interesting about the site:

a.) Stay current on legislation

b.) Focus on candidates

Here is the link provided by Dick Armey. Here is the post

FreedomWorks new social networking site puts in action change for liberty minded people Join me at
Failed Banks List:

Community First Bank Chicago Chicago IL

North Georgia Bank Watkinsville GA

American Trust Bank Roswell GA

First Community Bank Taos NM

FirsTier Bank Louisville CO

Evergreen State Bank Stoughton WI

The First State Bank Camargo OK

United Western Bank Denver CO

The Bank of Asheville Asheville NC

Community South Bank & Trust Easley SC

Enterprise Banking Company McDonough GA

Oglethorpe Bank Brunswick GA

Legacy Bank Scottsdale AZ

First Commercial Bank of Florida Orlando FL

 



 

 

 

 

 

 



 

 

February 7, 2011 Posted by | Uncategorized | , , , | Leave a comment