Stewart Title Company Fined
Stewart Title Company has agreed to pay a penalty of one million dollars to the California Department of Insurance.
The statewide title company was accused of paying more than $500,000 in kickbacks to lenders, builders, and title agents in exchange for receiving business referrals. Stewart Title Company has agreed to halt the illegal activities and pay $1 million in penalties.
Stewart Title has about 10 percent of the California title insurance market and has local branch offices in Sacramento, El Dorado, Placer and Yolo counties.