The Bank of New York Mellon v. Commonwealth Land Title Insurance Company et al

Filing 33

ORDER APPROVING ECF No. 32 Stipulation to Continue Stay of Case as detailed herein. Joint Status Report due by 7/19/2023. Signed by District Judge Anne R. Traum on 1/17/2023. (Copies have been distributed pursuant to the NEF - CJS)

Case 2:22-cv-00341-ART-NJK Document 33 Filed 01/17/23 Page 1 of 3

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UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

THE BANK OF NEW YORK MELLON AS
TRUSTEE FOR THE CERTIFICATEHOLDERS OF THE CWABS INC., ASSETBACKED CERTIFICATES, SERIES 200611,
Plaintiff,
vs.

Case No.: 2:22-cv-00341-ART-NJK
ORDER APPROVING
STIPULATION TO
CONTINUE STAY OF CASE

FIDELITY NATIONAL TITLE GROUP,
INC.; COMMONWEALTH LAND TITLE
INSURANCE COMPANY, DOE
INDIVIDUALS I through X; and ROE
CORPORATIONS XI through XX, inclusive,
Defendants.
Plaintiff, The Bank of New York Mellon fka The Bank of New York, as Trustee for the
Certificate holders of the CWABS Inc., Asset-Backed Certificates, Series 2006-11 (“Plaintiff”)
and Defendants Fidelity National Title Group, Inc. and Commonwealth Land Title Insurance
Company (“Defendants”, and with Plaintiff, the “Parties”), by and through their undersigned
counsel, hereby stipulate as follows:
This matter involves a title insurance coverage dispute wherein Plaintiff contends, and
Defendants dispute, that the title insurance claim involving an HOA assessment lien and
subsequent sale was covered by the subject policy of title insurance. There are now currently

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Case 2:22-cv-00341-ART-NJK Document 33 Filed 01/17/23 Page 2 of 3

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pending in the United States District Court for the District of Nevada and Nevada state courts

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more than one-hundred actions between national banks, on the one hand, and title insurers, on the

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other hand. In virtually all of these actions, the title insurer underwrote an ALTA 1992 or ALTA

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2006 loan policy of title insurance with form 1 coverage, along with the CLTA 100/ALTA 9

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and/or CLTA 115.2/ALTA 5 Endorsements.

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The Parties stipulated to a limited six-month stay of the case, which was granted on July

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19, 2022 [ECF No. 28]. The limited stay expires on January 19, 2023 [ECF No. 28]. The Parties

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have conferred and believe another limited six-month stay is warranted. There are now two fully

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briefed appeals to the Nevada Supreme Court involving similar coverage disputes in PennyMac

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Corp. v. Westcor Land Title Ins. Co., Nevada Supreme Court Case No. 83737 (“PennyMac”) and

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Deutsche Bank Nat’l Trust Co. v. Fidelity Nat’l Title Ins. Co., Nevada Supreme Court Case No.

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84161 (“Deutsche Bank”). Both PennyMac and Deutsche Bank are fully briefed, but oral

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argument has not been set. The Parties anticipate that the Nevada Supreme Court’s decisions in

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the foregoing appeals may touch upon issues regarding the interpretation of policy and claims

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handling, that could potentially affect the disposition of the instant action.

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Accordingly, the Parties believe an additional stay of six months in the instant action will

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best serve the interests of judicial economy. The Parties request that the action be stayed for an

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additional six months, through and including, July 19, 2023. The Parties are to submit a Joint

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Status Report on or before July 19, 2023. The Parties further agree that this stipulation and stay

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of this case is entered based on the specific circumstances surrounding this particular case, and

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that this stipulation shall not be viewed as a reason for granting a stay in any other pending matter.

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NOW THEREFORE, the Parties, by and through their undersigned counsel, hereby

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stipulate and agree as follows:

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1. In the interests of judicial economy and in efforts to preserve the Parties’ resources,

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the Parties request that this action be STAYED FOR AN ADDITIONAL SIX (6)

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MONTHS, through and including, July 19, 2023.

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2. All deadlines currently set in this case shall remain VACATED.

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3. The Parties are to submit a Joint Status Report on or before July 19, 2023.

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Case 2:22-cv-00341-ART-NJK Document 33 Filed 01/17/23 Page 3 of 3

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4. The stay will not impact subpoenas duces tecum and deposition subpoenas to third

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parties, and the Parties may enforce subpoenas that the Parties propounded to third

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parties during the stay.

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5. By entering into this Stipulation, none of the Parties is waiving its right to
subsequently move the Court for an order lifting the stay in this action.

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IT IS SO STIPULATED.

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DATED this 11th day of January, 2023.

DATED this 11th day of January, 2023.

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WRIGHT, FINLAY & ZAK, LLP

SINCLAIR BRAUN LLP

/s/ Lindsay D. Dragon
Lindsay D. Dragon, Esq.
Nevada Bar No. 13474
7785 W. Sahara Ave., Suite 200
Las Vegas, NV 89117
Attorney for Plaintiff, The Bank of New York
Mellon fka The Bank of New York, as Trustee
for the Certificate holders of the CWABS
Inc., Asset-Backed Certificates, Series 200611

/s/ Kevin S. Sinclair
Kevin S. Sinclair, Esq.
Nevada Bar No. 12277
16501 Ventura Boulevard, Suite 400
Encino, California 91436
Attorney for Defendants, Fidelity National
Title Group, Inc. and Commonwealth Land
Title Insurance Company

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IT IS SO ORDERED.

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Dated this 17th day of January, 2023.

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_______________________________________
ANNE R. TRAUM
UNITED STATES DISTRICT COURT JUDGE

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