Escrow Shortfall Estimate $12M
The FBI and Postal Service are investigating the collapse of Capital Title Co. and interviewing former employees. The investigation by the Missouri Department of Insurance that began in December is continuing.
First American Title Insurance Co. released new figures showing that escrow account shortages may reach $12 million, twice the projected amount. First American is paying claims customers purchased a title policy. If there is no evidence of title policy purchase, First American is turning claims over the to the receiver. First American has already made payments of $6.8 million. It is still unclear what happened to the escrow funds.
