Insurer Sues Pol, Attys Over $2M Loss In Mortgage Fraud

Law360, New York (November 15, 2011, 5:15 PM EST) -- Commonwealth Land Title Insurance Co. on Thursday sued a former Long Island county legislator and three attorneys accused in an $82 million criminal mortgage fraud scheme, seeking to recover more than $2 million lost when it underwrote a mortgage on a previously foreclosed property.

Commonwealth underwrote a $2 million mortgage from Luxury Mortgage Co. and was left with nothing when the defendants walked away with the money because the previous lenders had higher-priority liens on the property, according to the insurer's complaint in New York State...
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