The Bank of America sues the First American Corporation

Bank of America Corp. stepped up efforts to curtail the cost of soured mortgages by suing First American Corp., claiming the title insurer refused to cover more than 5,500 loans that caused $535 million of losses.

The policies described in the First American case sound like “liar’s title insurance.”

The First American Corporation has a history of getting involved in “liar’s title insurance” going as far back as 1996! I know it first hand. Yet, for the First American Corporation, it is still business as usual.

My blog or my posts under ‘leclezio’ or louis_wendy_leclezio on the Yahoo FAF message board dating back to 2000, offers a well documented track record of the First American Corporation's historical “liars title insurance” systemic 'modus operandi'. To make matters worse, when the lie is so blatant, First American issues the title policy subject to an ‘invalid’ indemnity agreement. Of course the existence of the indemnity agreement is not disclosed to affected parties. First American has never dared to collect on some of its dubious indemnity agreement preferring to sink its victims.

A most respected leading real estate attorney, Mr. Jerome Lasky of Moses and Singer, New York issued an opinion about this odious practice of the First American Corporation on June 2, 1998! It can be viewed on Google: Book search: First American Title to Injustice – Mr. Lasky’s opinion being on pages 11 to 18.

http://books.google.mu/books?id=zXzilH1JfgUC&printsec=frontcover&dq=first+american+title+to+injustice&source=bl&ots=Dsm3cnKMyr&sig=eDvB8FsmlTzm6J0D9ktpQjVcqMQ&hl=en&ei=OeDsS6KhCZC-rAf87eC1Bg&sa=X&oi=book_result&ct=result&resnum=3&ved=0CB0Q6AEwAg#v=onepage&q&f=false

I hope the various litigations involving fraud by the First American Corporation finally expose the cynical and savage culture of the First American Corporation to commit fraud on customers solely to feed their selfish corporate greed".

Since 1996, I have been asking Congress to haul the First American Corporation in and to overhaul it!

Much international misery could have been spared the many victims of the First American Corporation.

First American Corporation considers customers on both sides of the aisle as sheep to be fleeced..

To make matters worse for all those left holding the bag, in the face of so many damning law suits, the First American Corporation has decided to split. It is expected to do so this summer. Traditionally the First American Corporation has excelled at muddying the waters with the help of their legal sharks.

Once again by splitting in the face of so many litigations involving fraud, First American Corporation muddies the waters not to have the picture as sharp as HDTV,"