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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SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. 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.