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Sixth Circuit Blurs Line Between Primary and Excess

The Sixth Circuit recently addressed the question of whether an excess insurer must provide a defense when the primary insurer fails to do so. In IMG Worldwide v. Westchester Fire Insurance Company, No. 3836 (6th Cir. July...more

Tenth Circuit (Applying Colorado Law) Upholds Summary Judgment In Favor Of Insurer On Earth Movement And Water Damage Exclusions

Wagner v. Am. Family Mut. Ins. Co., No.: 13-1438, 2014 U.S. App. LEXIS 11526 (10th Cir. June 19, 2014) arose from a claim by a property owner under a homeowner’s insurance policy issued to her by American Family Mutual...more

CFPB orders New Jersey title services company to pay for illegal mortgage referrals

On June 12, the CFPB announced that it has issued a Consent Order under which a New Jersey title services company, Stonebridge Title Services Inc., agreed to pay a $30,000 civil money penalty for paying illegal kickbacks for...more

Bad Faith Claim Against Insurer Ruled Unsustainable by New York Federal Courts Where Based on Same Facts as Breach of Contract...

Two recent New York federal court decisions – 433 Main Street Realty, et al. v. Darwin National Assurance Co., No. 14-cv-587 (NGG) (VMS) (E.D.N.Y. Apr. 22, 2014) and County of Orange v. The Travelers Indemnity Co. No....more

Claims Against Loan Servicer And Force-Placed Insurer Alleging Commission And Reinsurance Kickback Scheme Survive Dismissal

A putative class action involving force-placed home insurance and an alleged scheme for mortgage lenders to obtain kickbacks in the form of commissions, reinsurance premium, and other fees, has survived a motion to dismiss. ...more

Eastern District of New York Dismisses Bad Faith Claims in Dispute Over Property Damage Caused by Hurricane Sandy

433 Main St. Realty, LLC v. Darwin Nat’l Assurance Co., No. 14-cv-587 (NGG) (VMS) (E.D.N.Y. Apr. 22, 2014) - Eastern District of New York dismisses claims for breach of the covenant of good faith and fair dealing and...more

Real Property, Financial Services & Title Insurance Case Law Update: May 2014 #1

I. FLORIDA STATE CASES - SARA WITMEYER - - Jurisdiction: where court never entered order authorizing individual to intervene and individual never became party to litigation, court had no personal jurisdiction to...more

Texas Federal Court Dismisses Insurer in Case Alleging “Bad Faith” and Violations of the Texas DTPA

On April 18, 2014, a federal district court in Texas granted summary judgment in favor of an insurer that had paid the policy proceeds demanded by the insureds, but nonetheless were sued for “bad faith.” The court’s decision...more

New York Federal Court Dismisses Superstorm Sandy Bad-Faith Claim as Redundant

In 433 Main Street Realty, LLC v. Darwin National Assurance Co., 2014 WL 1622103 (E.D.N.Y. Apr. 22, 2014), the United States District Court for the Eastern District of New York dismissed the insureds’ cause of action against...more

England and Wales Court of Appeal: Do Not Disclose At Your Peril

The Court of Appeal in England and Wales recently affirmed the High Court’s decision in Alan Bate v Aviva Insurance UK Ltd [2014] EWCA Civ 334, which held that Aviva was entitled to rescind or avoid a domestic property...more

California Court Of Appeals: Discrepancy Between Insurer’s Initial Repair Estimate And Actual Cost Of Repairs Did Not Constitute...

Meuser v. Allstate Ins. Co., A136243, 2014 WL 802535 (Cal. Ct. App. Feb. 28, 2014). Court of Appeals of California finds no breach of contract or bad faith where actual cost of repairing fire-damaged home was higher...more

SDNY Certifies Interlocutory Appeal In Lender-Placed Insurance Dispute

On April 3, the U.S. District Court for the Southern District of New York certified an interlocutory appeal of an order denying a motion to dismiss filed by a group of insurers facing class allegations of unlawful...more

Federal Court Refuses To Dismiss Plaintiffs’ Putative Class Action In Captive Reinsurance Case

On their third attempt to state a claim for mortgage services fraud pursuant to the Real Estate Services Settlement and Procedures Act (“RESPA”), Plaintiffs in a putative class action overcame defendants’ motion to dismiss on...more

Real Property, Financial Services & Title Insurance Case Law Update: Weeks Ending February 21 And 28, 2014

I. FLORIDA STATE CASES – JOURDAN HAYNES & ILAN NIEUCHOWICZ - Relation-Back: amended complaint naming third-party defendant as defendant relates back to filing of third-party complaint where (a) third-party complaint...more

Eleventh Circuit Rules Lenders Can Demand Flood Insurance Coverage That Exceeds Loan Balance

Agreeing with the First Circuit’s recent en banc ruling in Kolbe v. BAC Home Loans Servicing LP, — F.3d —, 2013 WL 5394192 (1st Cir. Sept. 27, 2013), the United States Court of Appeals for the Eleventh Circuit ruled that the...more

PNC Bank and Freddie Mac Reach Settlement Agreement

On December 6, PNC Bank announced an agreement in principle to an $89 million dollar settlement agreement with Freddie Mac resolving outstanding and potential repurchase claims arising out of the sale of some 900,000 loans to...more

CFPB Settles with Mortgage Insurance Company for Violations of RESPA

The CFPB announced it had entered into a consent order with a mortgage insurance company following the CFPB’s filing of a complaint in the United States District Court for the Southern District of Florida against the company...more

Roofing Contractors, Don’t Mess With Texas Insureds!

Hailstorms are inevitable in Texas, and so is the experience of the typical homeowner in their aftermath. Countless flyers are taped to the front door, yard sign ads spring up in the neighborhood, and the phone and doorbell...more

Real Property, Financial Services & Title Insurance Case Law Update: November 2013

I. FLORIDA STATE CASES – SASHA GRANAI FUNK - Foreclosure: final judgment of foreclosure without amounts due and owing invalid and precludes foreclosure sale - King v. US Bank, No. 1D13-3109 (Fla. 1st DCA Nov. 6, 2013)...more

JPMorgan Chase Agrees to Settle Forced-Placed Insurance Class-Action Lawsuit for $300 Million

JPMorgan Chase and Assurant Inc. recently agreed to settle a class-action lawsuit initiated in June 2012 for $300 million brought by a class of 1.3 million homeowners nationwide who claimed that they were overcharged for...more

Alabama Supreme Court Corrects the Perception that Alabama Law Contemplates Two Bad Faith Torts

In Brechbill v. State Farm Fire & Cas. Co., No. 1111117, ___ So. 3d ___, 2013 WL 5394444, 2013 Ala. LEXIS 126 (Ala. Sept. 27, 2013), the Alabama Supreme Court held that there is only one, as opposed to two, causes of action...more

Muddying the Waters on Policy Stacking Law: Perspectives on Insurance Recovery Newsletter – Summer 2013

In This Issue: - Federal Housing Finance Agency Proposes New Rules on Lender-Placed Insurance - J.P. Morgan Decision Curtails the Phantom “Restitution Defense” to D&O Coverage - Bad-Faith Claims...more

Except In Two Circumstances, There Can Be No Claim For Bad Faith Without A Breach of The Contract – The Houston Fourteenth Court...

In Lexington Insurance Company v. Jaw The Pointe, LLC, 2013 WL 3968445 (Houston [14th Dist.] August 1, 2013) the dispute arose from Hurricane Ike-related damage to an apartment complex in Galveston, Texas. The property...more

Morgan Stanley’s Motion to Dismiss $757 Million RMBS Suit Denied in Part

On July 13, Justice Eileen Bransten of the New York Supreme Court denied Morgan Stanley’s motion to dismiss MetLife’s common law fraud and fraudulent inducement claims....more

The Collateral Source Rule and Title Insurance: Broker Accused of Fraud by Lender May Show it Obtained Title Insurance as Defense

In Chanda v. Federal Home Loans Corp. (2013) 215 Cal.App.4th 746, the court analyzed application of the so-called “collateral source” rule to preclude evidence of title insurance, in the context of a claim by a lender against...more

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