First American pays $5 million to settle Florida kickback charges Premium Content

Regulators claim 87 title agencies were sham businesses

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First American Title Insurance Co. has agreed to pay a $5 million fine and sever ties to 87 limited partnership title agencies in Florida to settle allegations the company paid kickbacks to builders, bankers, real estate agents and brokers in exchange for business referrals.

Florida regulators and the U.S. Department of Housing and Urban Development accused First American of creating sham affiliated businesses that it owned jointly with companies that could refer home buyers in need of title insurance.

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