BofA Urges Nev. Court To Keep HOA Title Insurance Suit Alive

By Josh Liberatore (April 26, 2022, 4:11 PM EDT) -- Bank of America asked a Nevada federal court to reject Fidelity National Title Group's attempt to skirt coverage of the bank's losses related to foreclosed homes in homeowners associations, saying the insurer's own endorsement manuals and trade usage representations promise coverage.

In response to Fidelity's motion to dismiss, Bank of America said Monday that the title insurer has long represented its policy endorsements as providing coverage for lenders' losses arising out of Nevada HOA superpriority assessment lien foreclosures.

The bank noted that endorsements in its title insurance policies expressly exclude coverage for HOA declarations in lease agreements and covenants related to...

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