Maryland Attorney General Anthony G. Brown announced a settlement with KVS Title, LLC and several related joint venture companies after the Consumer Protection Division alleged the companies unlawfully paid real estate agents and brokers for consumer referrals in violation of state and federal law.
Under the agreement, the joint ventures will be dissolved, KVS Title is barred from forming similar arrangements, and the companies will pay $850,000 in restitution to consumers and $200,000 to the state, with eligible consumers to be notified within 90 days.
Per the news release distributed on Wednesday, January 14: “Attorney General Anthony G. Brown announced today that his Consumer Protection Division has entered into a settlement with Maryland-based KVS Title, LLC (KVS Title), a real estate title company, and joint venture companies that KVS formed with real estate agents and brokers in order to sell title insurance to consumers. The joint venture companies were Alliance Title Services, LLC; Clear Title Solutions, LLC; Eversure Title, LLC; Realty Settlement Solutions, LLC; Title Pro Group, LLC; and Washington Title Team, LLC. The Division alleged the joint venture companies unlawfully paid fees to real-estate agents and brokers who were members of the joint ventures, in exchange for the referral of consumers who purchased title insurance, in violation of the federal Real Estate Settlement Procedures Act of 1974, the Maryland Real Estate Settlements Act, and the Maryland Consumer Protection Act…