Maryland AG Secures Settlement with Title Insurance Companies for $1.05M

On January 14, Maryland’s attorney general announced that the state’s Consumer Protection Division (CPD) entered into a settlement resolving allegations that several joint venture title agency companies formed between a title agency and real estate agents or brokers unlawfully paid fees to those agents and brokers in exchange for referring consumers for title insurance.

The CPD alleged these joint ventures were created specifically to facilitate referral payments, in violation of the federal RESPA and the Maryland Real Estate Settlements Act (MRESPA), which prohibit giving anything of value for referrals related to title insurance.

Read more at JDSupra