Zarwin Baum Negotiates Settlement on Behalf of Title Insurer in Action Against Closing Agent
April 27, 2016
Philip Magen negotiated the favorable settlement of an action brought by a title insurer to recover sums paid under a title insurance policy. A dispute arose between two mortgage holders regarding the priority of their mortgages. After trial the mortgage subject to the title insurance policy was found to be in a junior lien position. Mr. Magen was then retained by the title insurer to recover sums paid by the title insurer to insure a first priority lien position for the insured mortgage. Mr. Magen commenced suit on behalf of the title insurer against the closing agent arguing that the closing agent negligently caused the insured mortgage be in a junior lien position. A favorable settlement was negotiated with the closing agent.