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FDIC sues title insurer, agency for inducing fraudulent mortgage purchases
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Court Report
Tuesday, August 12, 2014
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The Federal Deposit Insurance Corp., in its role as receiver for Washington Mutual Bank, sued a title insurer, title agency and title agency owner, for inducing Washington Mutual to purchase three fraudulent mortgages, resulting in more than $1.24 million in losses to Washington Mutual. The case went before the U.S. District Court for the Eastern District of New York on the insurer’s motion to dismiss.
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