Old Republic Says Regulator Approves 60% Cash Payout on Claims
Old Republic International Corp. (ORI), the insurer that stopped backing new home loans, said its regulator in North Carolina approved a plan to allow for cash payment of 60 percent of settled mortgage-guaranty claims.
The remainder will be covered through a deferred payment obligation, the Chicago-based company said today in a statement distributed by PR Newswire.
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