Title Insurance

News & Analysis as of

Eastern District Of Pennsylvania: Closing Protection Letter Does Not Constitute “Insurance” For Purpose Of Statutory Bad Faith...

Bancorp Bank v. Lawyers Title Insurance Corp. , No. 13–6103 , 2014 WL 3325861 (E.D. Pa. Jul. 8, 2014). Eastern District of Pennsylvania explains that while Closing Protection Letter may be an indemnity contract, it is...more

Real Property, Financial Services & Title Insurance Update: August 2014 #1

Trial court erred in granting lender’s motion to vacate an order dismissing its foreclosure complaint for lack of prosecution without first giving borrower an opportunity to be heard at an evidentiary hearing. – Arcila v. BAC...more

Real Property, Financial Services & Title Insurance Update

Easements: trial court erred in denying statutory easement or “way of necessity” where owners established all elements pursuant to section 704.01(2), Fla. Stat. – Messer v. Sanders, No. 1D13-3084 (Fla. 1st DCA July 9, 2014)...more

Expect Focus - Catching The Next Wave, Regulatory and Litigation Developments - Volume II, Spring 2014

In This Issue: - IN THE SPOTLIGHT ..Private Equity: The Next Wave of SEC Enforcement Actions? - LIFE INSURANCE ..How to Fight a STOLI Scheme: Court Rulings Offer Clues ..STOA Schemes Face...more

Title Insurers Face a Decade of New Challenges

Title insurers have emerged from a tumultuous decade. In 2004, amid a record housing boom and unprecedented wave of refinancing, insurers could barely keep up with intense pressure to sign up more issuing agents to close more...more

Real Property, Financial Services, & Title Insurance Update

Foreclosure: reservation of jurisdiction in final judgment to determine amount of attorneys’ fees renders that portion of judgment non-final and non-appealable – BAC Home Loans Servicing LP v. Ridgway, No. 1D13-3853 (Fla. 1st...more

Real Property, Financial Services & Title Insurance Case Law Update

Neutral Evaluation/Sinkhole Litigation: trial court erred in sustaining objection to insurer’s notice of stay to invoke neutral evaluation process in lawsuit for breach of contract and damages for sinkhole losses to property...more

Thoughts On Mortgagee Title Insurance Policies

Banks are, once again, making real estate secured loans in Florida. Those in the industry will undoubtedly be aware of the fact that most lenders require a mortgagee title insurance policy to insure their mortgage lien on...more

Provision in Lender's Title Insurance Policy Reducing Amount of Insurance by "Payments Made" Does Not Include Lender's Full Credit...

In the case of Bank of Idaho v. First American Title released June 17, 2014, the Idaho Supreme Court covered some new ground and revisited some old ground....more

Recent Cases of Note

District of New Jersey Denies Class Certification in Title Insurance Case on Grounds of Ascertainability - In the latest in a series of decisions from courts in the Third Circuit regarding ascertainability of a...more

CFPB Fines Realty Firm $500K Over RESPA Disclosures

On May 28, the CFPB ordered the largest real estate company in Alabama to pay a $500,000 civil penalty to settle claims that the company provided inadequate disclosures of its relationship with an affiliated title insurance...more

Real Property, Financial Services & Title Insurance Case Law Update

Conditions Precedent: summary judgment precluded by disputed issues of fact as to extent insured parties sufficiently complied with provisions of homeowners’ insurance policy – Solano v. State Farm Florida Insurance Co., No....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

3 Reasons Why Florida Property Owners Need Title Insurance

If you’ve never purchased a home or other property before, the learning curve can seem overwhelmingly steep. There are forms to sign, authorizations to give, and a seemingly never ending list of questions to answer. Florida...more

Real Estate Tip – When a Title Insurer’s Coverage Isn’t

Frequently, policyholders sue their title insurance companies in order to determine whether a claim is covered and to force the company to pay any loss. Obtaining a court order confirming that a claimed loss is covered may...more

Fifth Circuit Adds A Third Dimension To Title Insurance Claims

Title insurance policies typically contain a "survey exception" that excludes coverage for certain title defects that cannot be discovered without a physical survey. In some jurisdictions, insurers also offer to waive that...more

Real Property, Financial Services & Title Insurance Case Law Update

I. FLORIDA STATE CASES – JOURDAN HAYNES & ILAN NIEUCHOWICZ - - Landlord/Tenant: lessor did not breach commercial lease by failing to complete construction by date certain where lease did not provide date by which...more

Real Property, Financial Services & Title Insurance Case Law Updates

I. FLORIDA STATE CASES - Quiet Title: deed reservation of right-of-way in favor of State, which applied only to tracts of land of 10 acres or more, did not attach to title of landowner of less than 10 acres and,...more

NAIC Report: 2014 Spring National Meeting

The National Association of Insurance Commissioners (NAIC) met for its Spring National Meeting in Orlando, Florida from March 29 through April 1. Typical for the first national meeting of the year, much activity was focused...more

Real Estate Tip: Hire Your Own Surveyor to Avoid a Close Call

A recent New Hampshire real estate closing was stalled at the 11th hour when the parties realized that a survey plan did not show the location of a no-build area created by private restriction in the chain of title. Since...more

Real Property, Financial Services & Title Insurance Case Law Update: Weeks Ending March 14 & March 21, 2014

I. FLORIDA STATE CASES – SCOTT FEATHER & JOURDAN HAYNES - - Summary Judgment: reversal of summary final judgment of foreclosure because of disputed issues of fact concerning amount of rents received from property that...more

5 Things Every CMBA Member Should Know

A Loan Policy Of Title Insurance. It is required as part of every loan originated by members of the California Mortgage Bankers Association – or at least it should be. Title insurance is supposed to protect lenders and...more

Lender’s Title Insurance: When Should Courts Measure the Fair Market Value of Property Affected by a Title Defect?*

Title insurance is designed to pay for damages caused by any defects to title that the title company should have discovered but did not. Lender’s title insurance protects lenders who lose money due to a title defect, which...more

Clarity May Finally Arrive in the District of Columbia for Lenders and Title Insurers

In response to the concerns of lenders and title insurers, the District of Columbia recently enacted clarifying legislation to amend the Saving D.C. Homes from Foreclosure Emergency Amendment Act of 2010 (the Act). The Act...more

Real Property, Financial Services & Title Insurance Case Law Update: Week Ending March 7, 2014

I. FLORIDA STATE CASES – SARA WITMEYER - - Foreclosure/Standing: testimony of employee of current loan servicer failed to establish necessary foundation for admitting records of prior loan servicer into evidence under...more

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