BALTIMORE, MD—Maryland Attorney General Anthony G. Brown has announced a settlement with KVS Title, LLC and several affiliated joint venture companies over allegations of illegal referral payments. The agreement will result in 850,000 dollars in restitution for Maryland consumers.
The settlement (PDF) follows an investigation by the Attorney General’s Consumer Protection Division into KVS Title and its partnerships with real estate agents and brokers. The state alleged that these joint ventures were used to pay unlawful fees to agents in exchange for referring homebuyers to purchase title insurance. Such practices are prohibited under the Maryland Consumer Protection Act, the Maryland Real Estate Settlements Act, and the federal Real Estate Settlement Procedures Act of 1974.
The specific companies involved in the settlement alongside KVS Title include:
- Alliance Title Services, LLC
- Clear Title Solutions, LLC
- Eversure Title, LLC
- Realty Settlement Solutions, LLC
- Title Pro Group, LLC
- Washington Title Team, LLC
As part of the agreement, these joint venture companies will be dissolved. KVS Title is also permanently barred from creating new joint ventures with real estate professionals for the purpose of making unlawful referral payments in Maryland…