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.
Name (Stock Symbol)
Fidelity National Title Company
Fidelity National Title Company provides title insurance and escrow services.
The information provided on ClassAdvocate.com is general in nature,
does not apply to any particular factual situation, and is not and
should not be taken as legal or other professional advice. We make no
commitment or warranty that the factual, legal or any other information
on ClassAdvocate.com, or on any linked website, is accurate, complete,
error-free, or current. As such, you should not rely on such information,
and should seek professional advice if and as you determine appropriate.
ClassAdvocate.com is not a lawyer referral service, and no attorney-client
or confidential relationship is or should be formed by use of the site.
The investigations listed on ClassAdvocate.com are attorney advertisements
and do not in any way constitute a referral or endorsement by ClassAdvocate.com
or any approved or authorized lawyer referral service.