INDIANAPOLIS, Ind. (WOWO): Two out of state title agencies have been ordered to issue refunds and pay fines for overcharging Hoosier customers.
The Indiana Department of Insurance found that two agencies were overcharging Indiana consumers for their title insurance. Prominent Title Agency, LCC in Cincinnati, Ohio has been ordered to refund consumers $30,281 for overcharges, as well as $15,000 as part of an administrative penalty from not reporting 475 transactions into the residential real estate database.
National Title Solutions, Inc. in Woodridge, Illinois has been ordered to pay $3,839, as well as pay a penalty of $7,614 for overcharging on premiums and paying unlicensed personnel for signing HUDs.
The two out-of-state title agencies together will be forced to pay out over $55,000 in refunds and fines.
“Part of our job at the Indiana Department of Insurance is to protect Hoosier consumers and we take that seriously. If we find during our examinations of title agencies operating in Indiana that any of them are breaking the law, they will be dealt with by the Department,” said Indiana Department of Insurance Commissioner Robertson.
