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On a motion for summary judgment brought by Bienert Katzman Littrell Williams LLP, a federal district judge in Florida ordered Defendant Attorneys’ Title Insurance Fund, Inc. (“ATIF”) to pay nearly $5 million to BKLW's client, the Federal Deposit Insurance Corporation, acting as Receiver for Washington Mutual Bank (“FDIC-R”). BKLW attorneys Steven Jay Katzman, Michael R. Williams, and Anne Uyeda represented the FDIC-R in this matter as the agency's approved outside counsel.
The FDIC-R alleged that seven closing agents who issued title insurance policies on behalf of ATIF had falsified loan, settlement, and accounting documents and failed to comply with Washington Mutual Bank (“WaMu”)’s closing instructions with respect to 14 residential real estate transactions in southern Florida. It also alleged that ATIF failed to reimburse funds that its closing agents had misappropriated from WaMu in connection with these several real estate transactions.
Following extensive briefing by the parties, the Court granted BKLW's motion for summary judgment as to 6 of the 14 transactions and ordered ATIF to pay an award of $5 million plus prejudgment in interest to the FDIC-R. A copy of the Court’s order is found here.
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