A complaint alleging an illegal industry-wide practice of kickbacks in the title insurance business was properly dismissed, the U.S. Court of Appeals for the Second Circuit said on July 3.
Plaintiffs who sought to win damages under the anti-kickback provision of the federal Real Estate Settlement Procedures Act offered nothing more than “mere conjecture” in their complaint against title insurance companies, the court concluded. The plaintiffs alleged that kickbacks to lawyers, title agents, brokers and lenders in return for referrals resulted in the sale of title insurance at inflated rates.
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