Residential Real Estate Insurance

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Real Property, Financial Services & Title Insurance Update: Week Ending October 2, 2015

REAL PROPERTY UPDATE - - Foreclosure/Standing: owner, who took title to property after lis pendens was recorded and who did not appeal denial of motion to intervene, did not have standing to appeal judgment of...more

Suit Limitation Is A Contractual Term, Not A Statute Of Limitations: Virginia Supreme Court Orders Allstate’s Demurrer Be Granted

The Virginia Supreme Court recently clarified that, even if the suit limitation in a standard fire insurance policy incorporates the language required by Virginia Code, the suit limitation language is not subject to statutory...more

ISO Issues Countrywide Revision to the Definition of a “Residence Premises” in its HO Program

The “where you reside” language in the homeowners forms that the Insurance Services Office (ISO) has published since 1991 have spawned litigation around the country for over 20 years, given the number of scenarios which could...more

Massachusetts Court Refuses to Apply Discovery Rule to Commencement of the Suit Limitations Period

Monday, in Nurse v. Omega U.S.  Insurance., Inc., 2015 Mass. App. LEXIS 158, 2015 WL 5774390 (Mass.App., Oct. 5, 2015), a unanimous panel of Massachusetts’ intermediate level appellate court held that the two-year suit...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 25, 2015

REAL PROPERTY UPDATE - Foreclosure/Standing: plaintiff failed to meet the requirement of pre-suit ownership for standing where, although assignment contained a purported effective date before complaint was filed, it was...more

Florida to Decide What Test Applies When Concurrent Multiple Perils Cause a Loss

For years, Florida courts have been seesawing between two different doctrines to determine whether there is coverage under a property policy when two perils – one excluded and one included — combine to cause a loss. Two...more

Appellate Court Notes

Supreme Court Advance Release Opinions: SC19359 - Persels & Associates, LLC v. Banking Commissioner - Noting that it has generally been the policy of the Courts to defer to the Legislature, especially as to the...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 18, 2015

REAL PROPERTY UPDATE - Default Judgment/Voidable: because default judgment was merely voidable, rather than void, where complaint upon which judgment was based failed to state a cause of action, Rule 1.540(b) was not...more

Under Illinois Law, Mine Subsidence Held to Be a Type of Excluded Earth Movement

Ever since Mattis v. State Farm Fire & Cas. Co., 118 Ill.App.3d 612, 73 Ill.Dec. 907, 454 N.E.2d 1156 (1983), Illinois courts have held that an earth movement exclusion contained in a first-party policy applies only to earth...more

Symptoms of the Texas Progressive Claim Syndrome

Those familiar with the issues faced by insurers in Texas first-party insurance claims, particularly in the realm of hail damage claims, are undoubtedly aware of what has been labeled the "Progressive Claim Syndrome.” In a...more

Tennessee Court: Requirement that Insurers “Make Available” Sinkhole Coverage Does Not Require Policyholders Be Notified

Since 2007, Tennessee statutes have required that homeowners carriers “make available” insurance coverage for sinkhole losses. Last Friday in Patterson v. Shelter Mut. Ins. Co., 2015 Tenn. App. LEXIS 734, 2015 WL 5320231...more

It’s Not Their Fault: New Jersey Supreme Court Upholds Dismissal of Nuisance and Trespass Claims in Environmental Context

The New Jersey Supreme Court recently clarified the elements needed to sustain a claim for nuisance and trespass in the environmental context. Generally, plaintiffs assert claims under common law such as nuisance and...more

Wealth Management Update - September 2015

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 11, 2015

REAL PROPERTY UPDATE - Adverse Possession: appellant entitled to judgment quieting title in her favor because appellant’s predecessor in title had adversely possessed disputed strip of land by having it enclosed by a...more

Ninth Circuit Rules Against Title Insurer in Long-Running RESPA Litigation

On August 24, the Ninth Circuit held that a title insurer’s equity investments in title agencies in exchange for agreements that the agencies would refer customers to the insurer violated the anti-kickback provisions of the...more

District Court Won’t Allow Insurer To “Repackage” Its Breach Of Utmost Good Faith Claims

We previously reported on Old Republic National Title Insurance Co. v. First American Title Insurance Co., in which the court partially dismissed First American’s claim for breach of good faith and fair dealing to the extent...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 4, 2015

REAL PROPERTY UPDATE - Foreclosure/Standing: party whose motion to intervene in foreclosure action was denied did not have standing to appeal final judgment of foreclosure – Market Tampa Investments, LLC. V Stobaugh,...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending August 21 & 28 , 2015

Foreclosure/Statute of Limitations: statute of limitations did not bar foreclosure action even though filed more than five years after breach and acceleration of note upon which previous foreclosure action that had been...more

Joint Letter to the Market by IVASS and the Bank of Italy of 26 August 2015

Considering the critical issues brought to light during the respective enquiries, in part in response to reports by several consumer associations, on 26 August 2015 IVASS and the Bank of Italy (the “Supervisory Authorities”)...more

New Hampshire Court Approves Commutations Concerning The Home Insurance Company

A superior court in New Hampshire has entered two orders – one concerning Arrowood Surplus Lines Insurance Company, the other concerning Providence Washington Insurance Company – approving commutations regarding The Home...more

HUD’s Proposal to Terminate FHA Insurance Policies Could Terminate the FHA Program

If there is anything that galls servicers of government-insured loans, it is the forfeiture or curtailment of all accrued interest from mortgage insurance claims resulting from the failure to foreclose fast enough within...more

California Court Considers Reimbursement of Legal Fees Under D&O Policy

In its recent decision in Clark v. Travelers Cas. Ins. Co. of America, 2015 U.S. Dist. LEXIS 114877 (C.D. Cal. Aug. 28, 2015), the United States District Court for the Central District of California had occasion to consider...more

Texas Court Addresses What Constitutes an “Itemized” Appraisal Decision

On Tuesday of this week, a unanimous panel of Texas’ intermediate level appellate court rejected arguments that an appraisal award that set forth lump sum replacement cost, depreciation, and actual cash value amounts for real...more

CFPB Issues Compliance Bulletin on PMI Cancellation and Termination

The CFPB recently issued Compliance Bulletin 2015-03, addressing the cancellation and termination requirements for private mortgage insurance (PMI) under the Homeowners Protection Act of 1998 (HPA). We note that this Bulletin...more

Title Insurance: When Does a Construction Lender “Create” or “Suffer” a Mechanics Lien?

BB Syndication Services, Inc. v. First American Title Ins. Co., 785 F.3d 825 (7th Cir. 2015) – A construction lender sued a title insurance company seeking defense and indemnification in connection with claims in a...more

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