Wells Fargo Sues Insurer Over $9.7M In Shady Loans

Law360, New York (March 19, 2009, 12:00 AM EDT) -- Wells Fargo Bank NA has taken aim at Old Republic Title Insurance Co. over a purported title and mortgage fraud scheme, alleging that the insurer should be responsible for phony or otherwise falsely represented mortgage loans that the bank later purchased through the secondary market.

Wells Fargo filed the suit Wednesday against Old Republic in the U.S. District Court for the Eastern District of Virginia, seeking damages from the title insurer for $9.7 million worth of allegedly fraudulent loans that were sold to the bank and...
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