LandAmerica subsidiaries Transnation Title and Lawyers Title have agreed to settle a consolidated class action suit alleging kickbacks and fee-splitting under RESPA, despite Lawyers Title’s attempts to obtain partial summary judgment on the basis of an affiliated business exemption regarding its relationship with Pulte Homes. The case involves claims that the companies agreed to split title premiums with homebuilders in exchange for the referral of business. And the case is not over for all the defendants, as two other suits in the consolidated case are still pending against First American and Chicago Title.
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LandAmerica title cos. pay $10.3 million to settle RESPA class action
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