Dear All,
Some of you have suggested that it would be a good idea to post excerpts from my book from time to time.
To underscore my claims about First American Title, I include some links to recent articles on First American Title with an excerpt from chapter 5 .
"Title firm to refund $4.6 mil to customers"
"Title Insurers Agree to Sweeping Reforms"
http://www.insurance.ca.gov/0400-news/0100-press-releases/0080-2005/release069-05.cfm
http://www.hud.gov/news/release.cfm?content=pr05-097.cfm
“Apparently the First American senior vice president for claims had endorsed that public company policy. In a letter addressed to me, dated March 24th 1998, James J. Dufficy had stated that his company had no duty vis-à-vis the public to do the ‘correct’ thing.
Some seven years later had James J. Dufficy learnt a valuable lesson from his involvement in our case? On April 27th 2005, Craig Harris of the Arizona Republic reported on yet another scam First American was involved in. Excerpts from the article read:
“First American Title Insurance Co., accused of being involved in a national kickback scheme, will refund $4.6 million to roughly 15,000 Arizona home buyers who bought policies during the past four years.
“The payment is part of a $24 million national settlement First American reached with Colorado regulators, who earlier this year first alleged the company was involved in kickbacks with home builders, brokers, lenders and real estate agents on title reinsurance policies.
“Jim Dufficy, vice president and regulatory counsel for First American Corporatio, the title company's parent said: ‘It was the right thing to do.’"
Does that imply that over the last seven years Dufficy’s sense of values has drastically improved or was Dufficy so cornered with his back to the wall that he had no other option? Because this time, it was not a lone foreigner being shammed, but rather large segments of American citizens. Was Dufficy forced, in order to save face in this instance, to do the “correct” thing?
Some of you have suggested that it would be a good idea to post excerpts from my book from time to time.
To underscore my claims about First American Title, I include some links to recent articles on First American Title with an excerpt from chapter 5 .
"Title firm to refund $4.6 mil to customers"
"Title Insurers Agree to Sweeping Reforms"
http://www.insurance.ca.gov/0400-news/0100-press-releases/0080-2005/release069-05.cfm
http://www.hud.gov/news/release.cfm?content=pr05-097.cfm
“Apparently the First American senior vice president for claims had endorsed that public company policy. In a letter addressed to me, dated March 24th 1998, James J. Dufficy had stated that his company had no duty vis-à-vis the public to do the ‘correct’ thing.
Some seven years later had James J. Dufficy learnt a valuable lesson from his involvement in our case? On April 27th 2005, Craig Harris of the Arizona Republic reported on yet another scam First American was involved in. Excerpts from the article read:
“First American Title Insurance Co., accused of being involved in a national kickback scheme, will refund $4.6 million to roughly 15,000 Arizona home buyers who bought policies during the past four years.
“The payment is part of a $24 million national settlement First American reached with Colorado regulators, who earlier this year first alleged the company was involved in kickbacks with home builders, brokers, lenders and real estate agents on title reinsurance policies.
“Jim Dufficy, vice president and regulatory counsel for First American Corporatio, the title company's parent said: ‘It was the right thing to do.’"
Does that imply that over the last seven years Dufficy’s sense of values has drastically improved or was Dufficy so cornered with his back to the wall that he had no other option? Because this time, it was not a lone foreigner being shammed, but rather large segments of American citizens. Was Dufficy forced, in order to save face in this instance, to do the “correct” thing?
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