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Insurance – Title Insurance – CRESPA – Private Remedy

A settlement company that allegedly breached its contract to serve as plaintiff’s agent for procurement of title insurance cannot be liable under CRESPA for alleged breaches of the Issuing Agency Contract under a settlement agent bond furnished by the settlement company, as CRESPA does not provide a private cause of action, a Fairfax Circuit Court says, following a 2007 Frederick County Circuit Court decision.
Chicago Title Ins. Co. v. Main Street Title & Escrow LLC (Fairfax Cir.Ct.) (VLW 009-8-012) (3 pp.)

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