BofA Suing Its Mortgage Insurance Provider For Denying Claims

The bank says that Old Republic Insurance Co., which Bank of America (BAC) paid to insure it against losses on potential borrower defaults, is “manufacturing excuses” to deny the bank’s claims. In a lawsuit filed last week in district court in Charlotte, N.C., it calls Old Republic’s conduct “aggravating and outrageous,” and says Old Republic is making “unreasonable interpretations” of the requirements in its policies. – Charlotteobserver

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