San Francisco District Attorney Terence Hallinan and City Attorney Louise Renne announced the consumer fraud lawsuit Wednesday against the San Francisco-based company.
State law prohibits title companies from keeping the interest that accrues on escrow accounts.
Steven Walker, a lawyer representing Old Republic, did not return calls Wednesday afternoon. Escheat funds is money that people inadvertently leave in escrow accounts. Title companies are supposed to turn the funds over to the state so the state can attempt to locate the consumers who are owed the money. If they don't come forward, the state keeps the money. The Mercury News.