HUD, Virginia title agency settle RESPA charges

A Virginia title insurance agency has agreed to pay more than $30,000 to settle accusations that it formed 10 sham businesses to enrich attorneys, real estate brokers and agents, and mortgage lenders who provided business referrals.

Officials with the Department of Housing and Urban Development alleged that American Land Title LLC, Big Spring Farm Inc. and Mark D. Gunn of Pearisburg, Va., violated provisions of the Real Estate Settlement Services Act (RESPA) that prohibit kickbacks for referrals or fee splitting for services that aren't actually performed.

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