Industry News

Fidelity to refund $2.2M for alleged real estate kickbacks

Signs agreement with Florida's Department of Financial Services

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Fidelity National Financial has agreed to refund $2.2 million to central Florida residents in the wake of an investigation by Florida's Department of Financial Services into alleged illegal referrals to title agencies for business, the department said today. Under the refund program, Fidelity National title customers who paid for title insurance provided by one of 60 title agencies in central Florida will receive 30 percent of the title insurance premium paid at the time of closing within the next 120 days. Fidelity also paid a $1 million fine, the department said. Fidelity National Title Insurance Co. did not admit wrongdoing and cooperated with the department, according to Tom Gallagher, Florida's chief financial officer, and the consent order in the case. Fidelity officials did not return phone calls asking for comment by press time. Last week, Fidelity agreed to pay about $1.2 million to consumers nationwide to settle Colorado's investigation of alleged title insurance-related ki...