Business Services Industry
California Regulators Investigate Title Insurance Companies.(Originated from The Orange County Register, Calif.)
Knight Ridder/Tribune Business News, September, 1996
Sep. 16--State regulators are looking into whether California home buyers are being improperly steered toward title insurance companies that may not offer the best price or service.
The California Insurance Department recently launched an investigation into the state's title insurance industry, responding to complaints that some companies are offering illegal kickbacks to real estate agents for directing customers their way.
The department is auditing three unidentified companies -- including two title insurers and one Orange County-based title agency that is underwritten by another company, according to state officials. As many as seven other companies are expected to undergo examination.
Federal law prohibits title insurance companies from offering...
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