Search By:
Products
Injury
Topic
Company
Industry
Fidelity National Title 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 a pending class action lawsuit against Fidelity National Title, one of the nation's largest title and escrow companies.
The class action complaint alleges that Fidelity National Title engaged in a series of schemes and deceptions designed to bilk customers out of millions of dollars. The class action complaint alleges Fidelity National Title 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.
The class action complaint also claims Fidelity National engaged in a retained interest scheme, pooling customer's loans and taking the profit from gained interest, the suit states. Fidelity National failed to disclose this to customers, which is a violation of fiduciary duties, according to the claim.
It is believed that Fidelity National Title engaged in these practices over the past five years and has illegally collected millions of dollars from consumers.
The class action complaint alleges that Fidelity National Title engaged in a series of schemes and deceptions designed to bilk customers out of millions of dollars. The class action complaint alleges Fidelity National Title 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.
The class action complaint also claims Fidelity National engaged in a retained interest scheme, pooling customer's loans and taking the profit from gained interest, the suit states. Fidelity National failed to disclose this to customers, which is a violation of fiduciary duties, according to the claim.
It is believed that Fidelity National Title engaged in these practices over the past five years and has illegally collected millions of dollars from consumers.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Fidelity National Title Company | Fidelity National Title Company provides title insurance and escrow services. |