Thursday, November 30, 2006
Cease And Desist Orders Pending Against 16 Missiouri Title Agencies
The Missouri Department of Insurance, Financial Institutions & Professional Registration released information regarding its recent investigations into several St. Louis area title agencies. The findings of this investigation prompted the Consumer Affairs Division of the department to request that Cease and Desist orders be issued to several of the agencies visited. Those agencies are:
Assured Title Company, License No. AG00692
Bankers & Lenders Title, LLC, License No AG8016545
Champion Title, LLC, License No AG8019258
Dependable Title, LLC, License No AG8019209
Freedom Title, LLC, License No AG8016324
Investors Title Company, License No AG1228181
Lewis & Clark Title, License No AG8013080
Mayer Title Company, LLC, License No AG8019232
Nations Title Agency, Inc., License No AG12519
Residential Title Services, Inc., License No AG8016430
Security Title Insurance Agency, LLC, License No AG1226492
St. Louis Title, LLC, License No AG8014269
Title One, LLC, License No AG8015998
Title Partners, LLC, License No AG8014856
Tristar Title Company, LLC, License No AG8021553
U.S. Title Guaranty Company, Inc., License No AG1223878
The Statements of Charges and Orders to Show Cause can be viewed at the Department’s website.
“We performed these investigations in an effort to review how the title industry in the St. Louis area is marketing, underwriting and rating insurance coverage,” said Dale Finke, director of the Missouri Department of Insurance, Financial Institutions & Professional Registration. “Unfortunately, our findings are discouraging, and we must take action to ensure Missouri consumers are treated fairly and honestly.”
The Consumer Affairs Division of the department initiated administrative enforcement actions against 16 title insurance agencies by submitting Statements of Charges to Director Finke. The division alleges that all 16 are using and collecting premiums at rates that had not been filed with or approved by the director, and all are misrepresenting, concealing or suppressing information from consumers regarding the actual cost of a title insurance policy and the charges or fees for services related to the examination of title records. Over half of the agencies are charging varying title insurance premiums that are unfairly discriminatory. Other alleged violations include the use of kickbacks, the use of all-inclusive title fees that don’t represent the actual cost of title insurance, and the failure to prominently display premium schedules filed with the director in their offices.
Each agency has 15 days to request a hearing to respond to the Statement of Charges. If the title agency chooses not to request a hearing, the department will order the agency to stop all unlawful business practices and impose civil or monetary penalties related to their unlawful practices.
“These problems demonstrate yet another need for reform in Missouri’s title insurance industry,” Finke said. “Our hope is that in January the General Assembly will also pass a bill to address the lack of oversight over escrow funds.”
The department proposed title reform legislation last year after no fewer than five title agencies in the state went out of business in the prior two years. This legislation would have required insurance companies to impose reasonable controls over the agencies that write policies on their behalf. This bill was brought up for final passage on the last day of the 2006 Legislative Session, but was delayed due to a filibuster in the Senate.
mortgage fraud
I RECENTLY HAVE HEARD THAT A TITLE COMPANY THAT I HAVE DONE MANY SEARCHES FOR HAS BEEN CLOSED DOWN. TRISTAR TITLE COMPANY IN LOMBARD AND LINCOLNWOOD, IL. ARE THE AFFLIATED WITH THE TRISTAR IN MISSOURI? ARE THEY AS WELL BEING CHARGED WITH THE SAME? EXACTLY WHAT DOES IT MEAN WITH ALL THE TITLE COMPANIES LISTED ABOVE? THERE ARE OTHER COMPANIES THAT I DO WORK FOR LISTED. MY BIGGEST PROBLEM IS THAT TRISTAR IN LOMBARD AND LINCOLNWOOD OWE ME APPROXIAMTELY $5,000.00 FOR SEARCHES AND COPIES! WHAT DO I DO?? WILL THEY PAY ALL THEIR BILLS? WILL THEY CLOSE? I WOULD REALLY APPRECIATE ANY HELP YOU COULD GIVE. NO ONE WILL RETURN MY CALL FROM THEIR OFFICES. WHAT IS GOING ON????? THERE ARE SO MANY TITLE COMPANIES LISTED ABOVE, SHOULD I IMMEDIATELTY STOP ALL WORK WITH ANYONE LISTED ABOVE. I TRYING TO MAKE A LIVING, NOT PASS TIME. UNBELEIVEABLY UPSET,SCARED TO DO ANOTHER SEARCH, IN NEED OF A RESPONSE,IN HOPES OF A GOOD ANSWER. ABSTRACTOR, LESLIE
Posted by on 03/01 at 05:41 PM
Tristar is shut down due to fraud. The owner of the company has fled the country rumor has it. Yes they were in Lincolnwood.
Posted by on 03/23 at 09:34 AM
We have just found out about Tristar title today. they have left us in a situation as well. How do i find out more information on how to begin to correct the problems they have given us.
Posted by on 08/31 at 07:02 AM
hello, my husband has already e-mailed you once but i just had to tell you how worried we are as to what has happened tothe debt we pay off with checks from tristar and we still have 2 checks that were never sent to creditors. what are our rights? we are still in debt.
Posted by on 08/31 at 08:07 AM
I too have just been made aware of the standings of Tristar Title. They owe me about $7,000.00 from 2006 and have put me in danger of losing my home. How do I recover that money?
Posted by on 02/12 at 10:39 AM
I had dealings with Tristar thru N3-National Notary Network, in Portland, OR. A failed signing attempt, and a reduced invoice, was met with disdain to my efforts to collect. Learning now that Tristar is now in trouble, makes me think twice to take on as assignment with an untested business. I’ll check the fraud listings first.
Posted by on 08/26 at 03:32 PM
Tri-star owes me a check in the amount of $4600.00 from a loan closed in 2007 with Countrywide. They are the ines that chose them. Any clue who is holding their escrows & how I can recover my money.
Posted by on 09/09 at 10:14 AM
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
