Did the Covered Defect in the Covered Document Directly Cause the Claimed Loss under Insuring Agreement D & E?
Claims under Insuring Agreements D and E are often made as a result of poor lending practices. This presentation stems from the premise that the Financial Institution Bond does not cover losses arising from the extension of credit against fictitious collateral. After a brief discussion of mortgage brokers, mortgage bankers, and the warehouse lending process, the presentation will discuss the history of the “resulting directly from” standard and the common expectations of the insured. How Did We Get Into This Mess? Oh, Right—We Bid the Job: A Primer on Bid and Performance Bonds under the Federal Acquisition Regulation and the Miller Act This presentation offers a broad, but comprehensive overview of Bid Bonds and Performance Bonds associated with the Miller Act and the Federal Acquisition Regulation forms. Included will be insight into the consequences associated with issuing bid bonds, the extent of a surety’s liability under both the bid and performance bonds, and the defenses availab
