BofA sues First American for ignored and unpaid claims totaling $535M

When I first saw the Business Week article I about choked on my coffee. $535M?? Can this be true?

My question is this; with the pending suit, is BofA taking FATCO paper? If not, what about the FATCO agents? There will be a lot of people following this situation, not only title agents, but I presume other lenders. Nothing of this size goes un-noticed by others in the real estate community.

This is posted up on TTW (thetitleweb.com) here.

This entry was posted on March 18, 2010, 10:17 pm and is filed under Title Industry News. You can follow any responses to this entry through RSS 2.0. You can leave a response, or trackback from your own site.

G.d. Toste

Fatco, don’t want to pay for anything, look at Toste vs. First American Title. Superior Court of the State of Calif.County El Dorado- Cameron Park Branch, case no. PC2007292.
Q. was FATCO part of a “taking” ?