The attorney general for Washington, D.C., announced Thursday a revelation into what the city says is the widespread use of illegal kickback schemes in the title insurance market.
Attorney General Brian Schwalb said multiple companies will pay a combined $3,290,000 after his office revealed they offered real estate agents discounted lucrative interests on ownership and other exclusive profit-sharing in exchange for business referrals that boosted those companies’ revenues. Essentially, these title companies are accused of having recruited real estate agents to offer illegal payouts in exchange for business referrals to their companies.
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