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Eleventh Circuit determines coverage for fraudulent wire
Posted Date: Wednesday, September 7, 2022
After being the victim of payoff fraud, a title company sought coverage under its cyber protection insurance policy. Its insurance company denied coverage, arguing that the title company failed to meet the requirements under the policy. The case eventually went before the 11th U.S. Circuit Court of Appeals.
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Entity seeks to amend foreclosure complaint
Posted Date: Wednesday, September 7, 2022
The entity that began foreclosure proceedings on property in Flushing, N.Y. sought to amend the complaint to substitute a cause of action to recover on the promissory note in lieu of the cause of action to foreclose the mortgage. The case eventually went before a New York state appellate court.
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Estate administrator seeks return of title after forged deed
Posted Date: Friday, September 2, 2022
An estate administrator filed suit, seeking to return title of Philadelphia property to the estate. He alleged that one of the defendants forged a deed supposedly executed by the deceased to convey the property that ultimately was held by another after a sheriff’s sale and mortgage.
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Utah amends proposed rule, refiles repeal
Posted Date: Friday, September 2, 2022
The Utah Insurance Department has filed a change to a proposed rule, as well as refiled a repeal of another existing rule. Comments will be accepted until Oct. 17, 2022, with the earliest possible effective date being Oct. 24, 2022.
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Judge lifts stay in policy dispute over HOA assessment
Posted Date: Friday, September 2, 2022
A federal judge in Nevada lifted a stay in one of almost 200 cases in which a national lender sued a title insurer for breach of a title policy, arguing the policy covers the lender for claimed losses stemming from HOA assessment lien foreclosures in violation of Nevada contract law.
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Former mortgage executive sentenced for $8.9 million fraud
Posted Date: Friday, September 2, 2022
The former president of sales and part-owner of a Garden City, N.Y.-based mortgage lender was sentenced for diverting more than $8.9 million of warehouse loans the lender fraudulently obtained purportedly to fund home mortgages and home refinancing.
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Insureds argue they were overcharged for policies
Posted Date: Tuesday, August 30, 2022
A California appellate court recently heard a consolidated appeal of two class action lawsuits against a title insurer. The plaintiffs in each case obtained owner’s and lender’s title insurance policies and allege they were overcharged for their title insurance policies.
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Assignee of claim files breach of contract suit
Posted Date: Tuesday, August 30, 2022
After the purchaser of property agreed to assign its claims to the deceased seller’s daughter in exchange for her conveying her interest in the property, the daughter sued the title insurer, alleging it breached its title policy.
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