Captiva Lake Investments v. Fidelity National Title Ins.

WOLLMAN, Circuit Judge.

National City Bank of the Midwest (National City) loaned Majestic Pointe Development Company, L.L.C. (Majestic Pointe), $21,280,000 in March 2006. Majestic Pointe planned to build a condominium development on the Lake of the Ozarks in Sunrise Beach, Missouri. To protect its security interest, National City purchased a title insurance policy (the policy) from Fidelity National Title Insurance Company (Fidelity). 2 Midway through construction, Majestic Pointe defaulted on the construction loan agreement and thereafter went bankrupt. National City sold its interest in the…