A mortgage company's third-party claim for reimbursement from the Lawyers' Fund for Client Protection was thrown out by a Nassau County, N.Y., judge. Justice Ralph Franco ruled that Norwest Mortgage may not proceed with a statutory negligence claim against The Dime Savings Bank for loan closing funds stolen in a former attorney's $3 million real estate scam. Although barring the third-party claim, Franco did rule that Norwest may proceed with its common law negligence claim against Dime Savings.
February 25, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A mortgage company’s third-party claim for reimbursement from the Lawyers’ Fund for Client Protection has been thrown out by a Nassau County, N.Y., Supreme Court justice.
In Norwest Mortgage v. The Dime Savings Bank, 22733-99, handed down Feb. 2, Justice Ralph Franco ruled that Norwest Mortgage may not proceed with a statutory negligence claim against The Dime Savings Bank for loan closing funds stolen in a former attorney’s $3 million real estate scam.
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