Transnation Title Insurance et al.

A class action lawsuit was filed on behalf of 60,000 Michigan homeowners claiming they were overcharged for title insurance. The class was filed against Transnation Title Insurance Co. of Arizona, First American Title Insurance Co. of California, Lawyer's Title Insurance Corp. of Virginia and Chicago Title Insurance Co. of Missouri. The four companies sell 84% of the title insurance in Michigan. The class included all those who purchased or held title insurance by one of the four companies between December 1998 and July 2005. A Detroit federal judge tentatively approved the $27.5 million class action settlement that would provide members of the class with up to $400 each. (Feb-11-06) [DETROIT FREE PRESS]