Appellate Division of the Supreme Court of the State of New York June 24, 1996 (Citibank, N. A. v. Commonwealth Land Title Insurance)

*636The plaintiff Citibank, N. A. (hereinafter Citibank) issued a home equity loan to certain nonparty homeowners that was secured by a mortgage dated October 25, 1988. Citibank obtained title insurance for the transaction from the defendant Commonwealth Land Title Insurance Company (hereinafter Commonwealth) by a policy also dated October 25, 1988.