Commonwealth Land Title Fined Over Broker Rebates

As part of an ongoing effort to crack down on rebates in the title insurance industry, state insurance officials said Wednesday that Commonwealth Land Title Co. has been fined $120,000 for providing incentives to real estate brokers and agents.

Los Angeles-based Commonwealth has offices throughout the state, including some in Orange County.

Department investigators said they found that Commonwealth staff had, among other things, offered discounted rates to favorite real estate customers in Orange County, and paid for the holiday parties of two local real estate offices. The company also rented desk space from real estate offices to have Commonwealth employees working at the location and generate more business.

Title companies such as Commonwealth are prohibited from offering incentives to real estate agents and brokers to get business referrals, department officials said.

Commonwealth officials could not be reached for comment.