Title of the insurer to reimburse the owners
Nearly 51000 Californians recently purchased homes or refinanced mortgages are split $ 10.3 million in repayments of two new titles of insurance companies, that the bribes paid to illicit among owners, agents and real estate lenders, insurance, John Garamendi, the commissioner announced Wednesday.
It records the bribe as “a cancer growing fast in home financing and construction of homes in California and $ 12.5 million collected in fines against three major groups of private insurance, guarantee the validity of 75 per cent of property transactions in California.
All three titles, insurers of their enterprises through fictitious premium payments easy to activate the insurance business subsidiaries of other companies in real estate transactions, he said.
In March, Garamendi issued under citations insurers.
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