Nashville Title Agency Placed in Receivership

The Nashville Post is reporting that Forsythe Title & Escrow Services is missing a significant amount of their escrow funds:

According to a complaint filed in Sumner County Chancery Court, Forsythe Title & Escrow Services cannot explain numerous discrepancies in its escrow accounts, and the receiver appointed to investigate its finances suspects professional misconduct.

The company owes between $1.6 million and $2.5 million to Lawyers Title Insurance Corp., and the escrow accounts contained just $1,451 as of Jan. 11.

This appears to be a decent size operation – 6 offices, and approximately $30 million a month in closings.