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Tag Archives: title insurance

U.S. Supreme Court hears case involving alleged kickbacks from title insurers  (access required)

At oral arguments two weeks ago, the justices of the U.S. Supreme Court seemed skeptical of a homeowner’s claim that a kickback scheme violated the Real Estate Settlement Procedures Act without showing any actual injury was suffered. In First American Financial Corp v. Edwards, plaintiff Denise Edwards purchased a home in Ohio. In the transaction, her settlement agent referred her title insurance to First American Title. Edwards claims that her settlement agent was part of a network of individual title companies that had entered into exclusive referral agreements with First American that involved kickbacks that violated RESPA.

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Chicago Title pays church $698,000 on $100,000 policy (access required)

Andrew Fitzgerald's (pictured) first foray into title insurance was over a half-million-dollar success. He was hired by Reynolda Presbyterian Church in Winston-Salem to sue Chicago Title Insurance Company after the insurer allegedly failed to defend the church against claims its neighbors brought against it. The church housed its administrative offices in "Harper House," which was situated on one of two parcels it acquired in 2001. At the time it acquired the parcels, the church also purchased a policy of title insurance from Chicago Title. The policy covered the church for losses related to title of up to $100,000.

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2010 Title Insurance Directory (access required)

Chicago Title Insurance Company   (Company did not respond to Lawyers Weekly’s request to update information for 2010 prior to deadline for this issue.)   Charter state: Nebraska Year admitted to N.C.: Sept. 23, 1963 Business mix: 60 percent residential; ...

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Title insurers feel continued pinch of Great Recession (access required)

After a decade of rising revenue, title insurance companies operating in North Carolina saw their numbers fall for the second straight year in 2009. Direct title insurance premiums earned fell to below $115 million for the first time since 2003 after a record high in 2007 of $168 million. Direct premiums earned in 2008 totaled $145 million. Chapel Hill-based Investors Title Insurance Company had the largest market share of N.C. title insurers, with 24.1 percent. It earned $26.8 million in premiums.

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‘Textbook clarity’ in lis pendens case extinguishes lien (access required)

Winston-Salem real estate developer T. Michael Kelley had his moment in the Court of Appeals' spotlight last week. It was his second such moment this month. The Court of Appeals reversed a trial court's dismissal of his quiet-title action and remanded the case for entry of summary judgment in Kelley's favor in June 20's Kelley v. Citi Fin. Servs., Inc. (Lawyers Weekly No. 10-07-0668, 15 pp.).

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