Court Ruling Tests States’ Jurisdiction Over MI Issues
January 21, 2002
Private mortgage insurers now find themselves in the RESPA lion’s den after a federal appeals court ruling earlier this month stripped the industry of immunity from anti-kickback lawsuits. In a Jan 2 ruling in Janet Patton v. Triad Guaranty Insurance, the U.S. Court of Appeals for the 11th Circuit held that the McCarran-Ferguson Act, which grants states jurisdiction over the insurance industry, only insulates state insurance laws from “inadvertent” federal legislation, not all federal