Industry News

Old Republic sues Florida title agency

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An independent title agency in Florida is facing a civil suit alleging its owner used escrow funds to purchase real estate and luxury cars, including a BMW coupe and a Hummer H2. The lawsuit, filed by Old Republic National Title Insurance Co., seeks $700,000 in damages from Lakeland, Fla.-based Independent Title Agency LLC, The Ledger of Lakeland, Fla., reported. Owner Erica Daniels and her husband Michael are accused of breach of contract, fraud, conversion and theft for allegedly using money wired directly from escrow accounts to purchase personal property. An attorney representing Old Republic told The Ledger the Florida Department of Financial Services is investigating the case. Independent Title Agency closed in January and is no longer licensed to sell title insurance, The Ledger reported....