Opinion ID: 1646326
Heading Depth: 1
Heading Rank: 3

Heading: Count IIThe Commonwealth Matter

Text: Respondent worked as a title agent for Commonwealth Land Title Insurance Company (Commonwealth). In or around 2005, respondent was involved in ten loan closings wherein Commonwealth issued insured closing letters to various lenders. Instead of using the funds received at the closings to pay off outstanding mortgages and other debt, respondent converted the funds to his own use. In total, respondent converted approximately $895,000 to his own use. As a result, Commonwealth was forced to make good on these payments. From January 1, 2005 through November 30, 2005, respondent's escrow account revealed multiple overdrafts and non-sufficient funds (NSF) charges. One example of respondent's misuse of his escrow account occurred on September 7, 2005 when the balance of the account fell to negative $93,847.01. In November 2005, Commonwealth filed a disciplinary complaint against respondent with the ODC. In September 2006, the ODC sent respondent a certified letter notifying him of the complaint, which letter respondent signed for and received. Respondent failed to respond.