Posted by Linda Juenger on 1/5/12 8:13pm Msg #408320
Old Republic Nat'l Title Ins Co IL Accepted a signing
for Friday. Tonight, they send me a 3 pg contract to sign. I don't even understand it. This is what #2 says. "Upon Issuance of a Commitment for Title Insurance by ORNTIC or its agents, in any real estate transaction in which Settlement Company is conducting the closing, ORNTIC may issue an American Land Title Association (ALTA) insured closing letter to the lender in said real estate closing."
What?????
Here is part of #5 "Settlement Company shall immediately advise ORNTIC of any notice against or defect in a title insured or on which a commitment was issued, based on any claim arising from a closing where the ORNTIC has issued an insured closing letter or its title policy.
I am NOT the Settlement Company.
It goes onto say that as an independent contractor I cannot solicit clients, no benefits will be paid, etc etc etc. I understand and agree with all of that, but I can't sign this. There is no way. Anyone else work for OR and not signed this contract? I am refusing and have let them know that I will not be doing the signing unless I get in writing that I do not have to sign this and will still be paid for my work.
ORNTIC - Old Republic National Title Insurance Company
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Reply by Saul Leibowitz on 1/5/12 10:16pm Msg #408332
Contact them; this is the sort of thing TC should sign for the lender, not you as a closer; when I ran a title co., I signed it, not the closers.
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