Fidelity National Requires Lenders to Vouch for Foreclosure Accuracy

Today Fidelity National Financial (FNF) issued a press release, a release that DSNews.com posted on their site, stating that FNF will back any REO sale conducted by Bank of America (BofA).

Fidelity National Requires Lenders to Vouch for Foreclosure Accuracy
http://www.dsnews.com/articles/fidelity-national-requires-lenders-to-vouch-for-foreclosure-accuracy-2010-10-22

This is made possible by FNF producing an indemnity agreement, that BofA signed, stating that they (BofA) will cover all court or lawsuit costs/ damages that FNF incurs in its efforts to protect its policy holders.

This is an exciting event, and one that will surely lead other title companies to follow suit.  Anticipate other title organizations to require the same signed agreement from other banking institutions.  These are truly interesting times.