All American Title Agency, LLC v. Department of Financial & Professional Regulation

Illinois Appellate Court
Civil Court
Citation
Case Number: 
2013 IL App (1st) 113400
Decision Date: 
July 16, 2013
District: 
1st Dist.
Division/County: 
Cook Co., 2d Div.
Justice: 
SIMON
Holding: 
Affirmed.
Department of Financial and Professional Regulation entered final order permanently revoking Plaintiffs' registrations under Title Insurance Act. Evidence showed that person who engineered "mortgage rescue" transactions, and for which Defendant Title Company acted as title agent, engaged in dishonest dealings as to disbursement of loan proceeds, was a manager and key decision maker of and had effective ownership interest in that title company through his mortgage company. Department's conclusion that titled company violated Title Insurance Act by employing him and allowing him ostensible ownership while engaged in dishonest dealings was not clearly erroneous. (HARRIS and QUINN, concurring.)