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Bank sues underwriter for denial of coverage
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Court Report
Tuesday, August 30, 2016
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When a bank discovered it held the third lien position on property in South Carolina, it went to its underwriter to address the claim. The title insurer denied the claim and the bank accepted a less amount to satisfy the note and mortgage, creating a significant deficit. After the title insurer denied a second claim, the bank filed suit. Read on for more details.
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