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Chicago Title Company wrongfully charged a "reconveyance fee" to consumers during a home closing or refinancing.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topics
- Misrepresentation
- Unfair and Deceptive Services
- Over Charge
- Excessive or Unauthorized Fees
Product or Service
- Title Insurance
Injury Type
- Monetary Loss
Investigation Details
Investigation and pending class action against Chicago Title Company, one of the nation's largest title and escrow companies.
The class action complaint alleges that Chicago Title engaged in a scheme and deception designed to bilk customers out of millions of dollars. Chicago Title allegedly engaged in a captive reconveyance scheme - charging customers fees for reconveyance when the reconveyance is actually done by the prior lender, a charge built into the payoff amount.
It is believed that Chicago Title engaged in this practice over the past five years and has illegally collected millions of dollars from consumers.
The class action complaint alleges that Chicago Title engaged in a scheme and deception designed to bilk customers out of millions of dollars. Chicago Title allegedly engaged in a captive reconveyance scheme - charging customers fees for reconveyance when the reconveyance is actually done by the prior lender, a charge built into the payoff amount.
It is believed that Chicago Title engaged in this practice over the past five years and has illegally collected millions of dollars from consumers.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Chicago Title Insurance Company | Chicago Title Insurance Company sells, underwrites and administers title insurance nationally. |