The Nevada Supreme Court recently held that the assignee of a deed of trust was not entitled to bring a claim against the title insurance company arising out of the closing protection letter. See PennyMac Holdings, LLC v. Fid. Nat’l Ins. Co., 423 P.3d 608 (Nev. 2018). In the case, a title agent issued a title insurance policy and closing protection letter (“CPL”) to a lender as part of a 2007 refinance. One week prior to the lender’s deed of trust being recorded, however, the homeowners association (the “HOA”) for the subject property recorded a lien for unpaid fees. Read the article………………..
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