Bank of America Sues Old Republic Title Insurance for Denying Mortgage Claims

Posted on November 4, 2010 by Fred Rivera

Law360 reports that Bank of America has filed a bad faith insurance practices lawsuit against mortgage insurer Old Republic Insurance Co. over denied mortgage claims.  The Complaint, filed in the U.S. District Court for the Western District of North Carolina, alleges that Old Republic improperly turned down hundreds of millions of dollars in valid mortgage insurance claims "for reasons that are unsubstantiated under the terms and conditions of the Policy."  The Bank seeks over $300 million in damages and an order requiring that that insurer pay valid claims.

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