BofA Sues For Coverage Of 4,500 Title Defect Claims

Law360, New York (March 18, 2010, 7:29 PM EDT) -- Bank of America NA has sued First American Title Insurance Co. for refusing to cover hundreds of title insurance claims related to defaulted home loans that have cost the bank $530 million.

Bank of America alleged First American and its subsidiary United General Title Insurance Co. improperly denied coverage for 2,200 claims and dragged their feet on 2,300 others, in a complaint filed March 5 in the Superior Court of North Carolina, Mecklenburg County.

Bank of America issued the home equity loans and lines of credit...
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