Nationwide Title Clearing Settles ‘Robo-Signing’ Suit in Illinois for $350,000
Nationwide Title Clearing settles ‘robo-signing’ suit in Illinois
Illinois and Nationwide Title Clearing Inc., have entered into a consent decree that dismisses a lawsuit filed against the company last year, alleging it filed faulty mortgage documents with county recorders.
The case, filed by the Illinois Attorney General’s office in Cook County Court in February 2012, alleged that the Florida-based company “robo-signed” documents without review, violating state consumer protection laws.
The agreement stipulates that Nationwide will pay the attorney general’s office $350,000 and will not process certain documents without performing detailed review by the person signing them.
It also will establish and maintain a toll-free hotline for consumers who have questions about documents handled by the company, and will maintain a log of those calls for at least 24 months.