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BUSINESS
November 8, 2008 | Times Wire Services
LandAmerica Financial Group Inc., the third-biggest U.S. title insurer, agreed to sell itself to No. 2 Fidelity National Financial Inc. for $128 million in stock after damage from the housing slump jeopardized its independence.
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BUSINESS
November 8, 2008 | Times Wire Services
LandAmerica Financial Group Inc., the third-biggest U.S. title insurer, agreed to sell itself to No. 2 Fidelity National Financial Inc. for $128 million in stock after damage from the housing slump jeopardized its independence.
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BUSINESS
August 5, 1999 | Edmund Sanders
The pending $1.2-billion merger between Irvine-based Fidelity National Financial Inc. and Chicago Title Corp. appears to be helping the stock of at least one competitor that investors are betting may be the next takeover target. Shares of Richmond, Va.-based LandAmerica Financial Group, the nation's No. 2 title insurer, surged nearly 20% Wednesday to close at $29.44 a share, up $4.81.
BUSINESS
July 21, 2005 | Annette Haddad, Times Staff Writer
Three of the nation's largest title insurers agreed to pay $37.8 million in refunds and penalties for allegedly participating in kickback schemes that pushed up consumers' costs, state Insurance Commissioner John Garamendi said Wednesday. The settlements affect about 84,000 Californians who purchased or refinanced a home between 1997 and 2004 using title insurance from First American Corp., Fidelity National Financial Inc. and LandAmerica Financial Group Inc.
BUSINESS
July 21, 2005 | Annette Haddad, Times Staff Writer
Three of the nation's largest title insurers agreed to pay $37.8 million in refunds and penalties for allegedly participating in kickback schemes that pushed up consumers' costs, state Insurance Commissioner John Garamendi said Wednesday. The settlements affect about 84,000 Californians who purchased or refinanced a home between 1997 and 2004 using title insurance from First American Corp., Fidelity National Financial Inc. and LandAmerica Financial Group Inc.
BUSINESS
August 1, 2000 | Times staff and Dow Jones
First American Corp., which operates the nation's second-largest title insurance company, said Monday that it has joined with a Richmond, Va., title insurer to create a standardized and centralized national network of title information databases. The Santa Ana insurer and LandAmerica Financial Group Inc. created Data Trace Information Services to provide online databases aimed at reducing title information costs by automating the system to improve efficiency.
REAL ESTATE
July 24, 2005 | From Times wire reports
Three of the state's largest title insurers agreed to halt what officials called a kickback scheme that cost home buyers $25.4 million and will pay more than $38 million in refunds and fines, according to California Insurance Commissioner John Garamendi. Garamendi said the three companies -- LandAmerica Financial Group Corp., First American Title Insurance Co. and Fidelity National Financial Inc.
BUSINESS
March 10, 2005 | From Times Staff and Wire Reports
California Insurance Commissioner John Garamendi said Wednesday that he had sent subpoenas to Wells Fargo & Co. and five other companies as part of a probe into possible fraud among title insurers. The subpoenas went to Wells Fargo Home Mortgage, Los Angeles-based builder KB Home, Newport Beach-based builder William Lyon Homes, real estate franchisor Re/Max International Inc., United Home Mortgage Corp. and Shea Financial Services.
BUSINESS
February 13, 2008 | From Bloomberg News
First American Corp. of Santa Ana, the largest U.S. title insurer ranked by revenue, and 13 other insurers have been sued by homeowners in New York over claims that they fixed prices. The title insurers fixed prices in New York at rates about 67% higher than the U.S. average, says a class-action complaint filed Feb. 1 in federal court in Central Islip, N.Y. The Title Insurance Rates Service Assn., or TIRSA, a group of state title insurers, functions as a cartel, the suit alleges.
BUSINESS
August 22, 1997 | From Bloomberg News
Lawyers Title Corp. on Thursday said it will pay $463 million for the title insurance units of Reliance Group Holdings Inc., forming the largest U.S. title insurer to surpass Santa Ana-based First American Financial Corp. Lawyers Title, now the nation's sixth-largest insurer of property titles, will pay $463 million in stock and cash for the Reliance subsidiaries, Commonwealth Land Title Insurance Co. and Transnation Title Insurance Co.
BUSINESS
August 5, 1999 | Edmund Sanders
The pending $1.2-billion merger between Irvine-based Fidelity National Financial Inc. and Chicago Title Corp. appears to be helping the stock of at least one competitor that investors are betting may be the next takeover target. Shares of Richmond, Va.-based LandAmerica Financial Group, the nation's No. 2 title insurer, surged nearly 20% Wednesday to close at $29.44 a share, up $4.81.
BUSINESS
March 3, 2006 | From Bloomberg News
New York Atty. Gen. Eliot Spitzer is investigating whether title insurers such as Fidelity National Financial Inc. paid improper rebates, allegations similar to those settled in California last year. He also issued subpoenas seeking information on agent compensation, LandAmerica Financial Group Inc. said in a November filing. New York regulators are in the late stages of their probe and may bring civil charges, the Wall Street Journal said Thursday, citing people familiar with the investigation.
BUSINESS
March 1, 2006 | From Reuters
LandAmerica Financial Group Inc. agreed Tuesday to pay $4.5 million to settle charges by the California Department of Insurance that it illegally rebated money from "captive" insurers to banks and builders to get more business. The Richmond, Va.-based real estate insurance company, which specializes in title insurance, will refund $2.6 million to customers and pay $1.9 million in penalties and legal fees, California Insurance Commissioner John Garamendi said.
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