Thursday, October 28, 2010
The Minnesota Supreme Court has accepted a joint recommendation for discipline and imposed a suspension for a minimum of one year. The attorney was the chief executive officer of two title companies. He admitted that his companies had
failed to record more than 3,000 mortgages on real estate transactions, failed to make more than $1.321 million in mortgages payoffs to prior lenders with funds entrusted to the title companies for that purpose, and failed to remit more than $196,000 in title insurance premiums to title insurers.
The attorney consented to the revocation of his Minnesota real estate broker's license, real estate closer's license, and insurance producer's license. He stipulated to the entry of judgments that total over $6.3 million. (Mike Frisch)