FEDERAL DEPOSIT INSURANCE v. CHICAGO TITLE INS.

No. 20-1572.

12 F.4th 676 (2021)

FEDERAL DEPOSIT INSURANCE CORPORATION, as Receiver for Founders Bank, Plaintiff-Appellant, v. CHICAGO TITLE INSURANCE COMPANY and Chicago Title and Trust Company, Defendants-Appellees.

United States Court of Appeals, Seventh Circuit.

Decided August 31, 2021.


Attorney(s) appearing for the Case

Michele A. Casey , Consumer Fraud Bureau, Chicago, IL, John Vincent Church , Federal Deposit Insurance Corporation, Arlington, VA, Chicago, IL, Stuart Tonkinson , FDIC, Arlington, VA, for Plaintiff Chicago Title And Trust Company.

Alicia A Garcia , Wilson Elser Moskowitz Edelman & Dicker, Chicago, IL, for Defendant Jo Jo Real Estate Enterprises, LLC.

Paul Joseph McGeough , Erie Peter Rosenberg , Fidelity National Law Group, New York, NY, Joseph J Stafford , Wilson Elser Moskowitz Edelman & Dicker, Chicago, IL, for Defendant Chicago Title And Trust Company.

Michael Alan Gilman , Dykema Gossett PLLC, Chicago, IL, Fidelity National Law Group, New York, NY, Joseph P. Tucker , Fidelity National Law Group, Chicago, IL, for Third Party Plaintiff Chicago Title And Trust Company.

Before Wood, Hamilton, and Kirsch, Circuit Judges.


This case arose from the fraudulent financing of purchases of four properties in Chicago back in 2006. The borrowers concealed their lack of equity from the lender. All defaulted, and the lending bank later went into receivership. As receiver for that bank, the FDIC brought this suit against the title insurance company that...

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