More v. Western Connecticut Title & Mortgage Co.

The defendant was engaged in the business, among other things, of loaning money on mortgages and issuing against them participation certificates. In the course of its business it took a mort gage of $450,000 on certain property in Stamford and issued participation certificates against it to an aggregate amount of $438,750. The company became insolvent and the insurance commissioner was appointed receiver under the provisions of § § 4105 et seq. of the General Statutes. At the time of the appointment, default had been made in the payments due under the mortgage and thereafter the receiver…