California Best Title to pay $ 150K to incentive control arrangement
State researchers discovered that marketing representatives Jonathan Golden and Joshua Meador gave brokers to send the company to the company – a practice known as illegal incentive, according to a announcement from CDI.
Golden is said to have offered free photography and drone video services, while Meador gave marketing advice for the sale of real estate.
“Title insurance protects buyers and lenders from real estate against possible financial losses by title defects or unexpected claims,” CDI said. “Although consumers have the right to choose the title company in a real estate transaction, brokers almost always make this choice for consumers.
“That is why title companies or their representatives should not offer illegal benefits or incentives to brokers in exchange for business references according to the legislation of California.”
Although the best title of California misconduct was refused, it signed the settlement agreement and agreed to implement a formal training program for employees about anti-assessment laws within 90 days.
In addition, the settlement requires Golden to allow the State Regulations to break and its certificate of registration as a representative of the title marketing, with effect from 20 March. He is also excluded from the search for an insurance license for the next three years.
Meador denied the allegations but accepted restrictions on his registration. He will pay $ 10,000 to fines and costs, CDI reported.
