Industry News

Washington state’s title insurance probe leads to civil lawsuit

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When Washington state officials this week announced the results of an 18-month investigation into the use of incentives and giveaways in the title insurance industry, they found the practice so pervasive that they decided to focus on future prevention and compliance rather than attempting to punish companies for past wrongdoings. But that doesn't mean homeowners who bought title insurance won't sue the companies, claiming they were overcharged. A lawyer for two couples who sued their title insurance companies Wednesday says he's seeking class-action status to represent others who bought title insurance from the companies. Washington State Insurance Commissioner Mike Kreidler "really made it very clear that consumers are on their own, and that's what this lawsuit is," attorney Thomas Loeser told the Seattle Post-Intelligencer. "It's the consumers going after these companies for the illegal activities." The lawsuit names First American Title Insurance Co. and Pacific Northwest Title, bu...