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RNB Title

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KinIL

Thread Starter
Sophomore Member
Joined
Nov 30, 2005
Professional Status
General Public
State
Illinois
Anyone know what happened to them??

A very reliable client of mine has used them for years (I usually get 5-6 checks from them each month)... well I just got 3 checks that came back from the bank with "RETURN REASON - S REFER TO MAKER." I was told by the client that uses them that they had 5 mortgages bounce, as a result of the state coming in and shutting them down. I can't find anything about this happening... and I'm just curious what you do in an instance when the title company bounces checks?!
 

KinIL

Thread Starter
Sophomore Member
Joined
Nov 30, 2005
Professional Status
General Public
State
Illinois
Just a followup:

I can't find anything regarding the closure of RNB Title on any state website or in any of the media outlets, but apparently atleast 2 other companies I deal with were impacted by this (and subsequently a total of 8 files with me).

One of the branch managers stated that he knew from someone within RNB, that the owner of the company had withdrawn money from the escrow account, for reasons unknown, and that started a domino effect of checks being cut with insufficient funds; subsequently ending with the state's closure and freezing of their assets.

Another title company (Ticor) has apparently stepped up to take care of RNB Policy holder's claims... but at this point I'm not sure they'll cover my losses. I do have a few telephone numbers for people a bit further up the chain, so if you were impacted by this, send me a message and I'll pass along all the relevant info I have.

Please keep in mind that I just received bounce notices on Saturday, and Today for checks that were deposited anywhere from 10-15 days ago, and they were floating around for that long. I have no idea how or why that's possible, usually my bank bounces a check after trying it for 3 days. I have only received one of the checks in the mail with a transcript that shows it was tried against 6 accounts, on 6 seperate dates.
 

dilyn

Freshman Member
Joined
Oct 10, 2008
Professional Status
General Public
State
Illinois
Rnb

Hello Kyle,

This whole thing is a mess. We still haven't been able to resolve anything. I feel like we have been given the run around. Whatever info you can pass along would be greatly appreciated. We have a claim going on but nothing has happened yet and we seem to be getting no where. We have been trying to fix this mess since August.
 
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