Lawyers are currently investigating the practices of title insurers in real estate transactions such as the purchase and sale of your home or condominium. If you purchased or refinanced a home or other property in the last 36 months you may have been overcharged for certain services.
If you used Chicago Title, Fidelity Title, or Ticor Title, we would be interested in speaking with you. Law firms are currently investigating if residents of certain states may have been over-charged for certain costs and fees in connection with your transaction.
Examples include instances in which the amount these entities charged for recording deeds and mortgages was greater than the amount actually charged by the county or local government to actually record the document, and where homeowner who refinanced was incorrectly charged for title insurance (typically the homeowner should be charged a reduced or discount rate for refinances).
Title Insurance Fraud Articles
Title Insurance FraudTitle insurance is an industry that is not well understood, leaving many people who purchase title insurance in the position of being taken advantage of. In fact, according to a CNN/Money article, in 2005 over a dozen title insurers paid tens of millions of dollars to regulators because of seemingly industry sales practices.
Buyer Beware: Know Your Title Insurance Regulations
Low interest rates in the past few years have induced many home owners to refinance their home. Did you know that, when a consumer refinances their home in most states, they are entitled to get discounts on certain fees associated with their mortgage?
Title Insurance Fraud in the News
MAR-08-07: State regulators cracking down on real estate agents and brokers who direct customers to affiliated title company for closing, then accept an illegal referral fee. [TWIN CITIES: TITLE INSURANCE FRAUD]MAR-06-07: Indiana Department of Insurance investigates Illinois-based company for charging customers about $60 for a service that normally costs only $6. [INSIDE INDIANA BUSINESS: TITLE INSURANCE FRAUD]
MAR-05-07: Title insurance company admits to giving more than $300,000 to a builder in what a state official terms as kickbacks. [KOBTV: TITLE INSURANCE]
FEB-23-07: When you buy a home, you must buy title insurance. But how do you know that you are getting a fair deal instead of getting taken to the cleaners? [
FEB-11-07: New mortgage and title insurance task force to monitor rampant mortgage fraud. [SOUTH BEND TRIBUNE: MORTGAGE FRAUD]
JAN-24-07: First American Title Insurance Co. agrees to pay $10 million to settle allegations that its employees paid illegal kickbacks for referrals of title insurance business. [OC REGISTER: TITLE INSURANCE FRAUD]
JAN-22-07: Title Insurance company involved in scams and fraud. [SOUTH BEND TRIBUNE: TITLE INSURANCE FRAUD]
