Incline Village, Nevada -- First American insured buyers of this residential condominium overlooking Lake Tahoe for $185,000.
As frequently happens, borrowers in this case had mortgage loan applications pending with two lenders. When both applications were approved, and the borrowers didn't bother to tell either lender about the other, the result was confusion over which lender was entitled to priority.
This spring, First American Title Insurance Company announced new policy forms for owners and lenders, which it calls its "EAGLE Policy." The EAGLE policy is designed for insuring residential properties only.
Many businesses (although not many title companies) are now using EDI to exchange documents and data with other businesses. EDI is a standard by which computers communicate with each other in formats called "transaction sets.
