The Docket: Pennsylvania Court Denies Title Coverage After Settlement Agent’s Misappropriation of Funds

September 21, 2017

Michael O’Donnell, partner at the law firm Riker Danzig Scherer Hyland Perretti, reviews a recent decision by the Superior Court of Pennsylvania that affirmed a decision denying a lender’s claim for coverage from a title insurance company after a settlement agent misappropriated the closing funds and failed to pay off the prior mortgages on the insured property.

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North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.