Last month, the Office of Financial and Insurance Regulation (OFIR) ordered G.I.A.F., Inc., a Southfield, Michigan-based title insurance company, along with several related parties, to cease and desist from the sale, solicitation, or negotiation of any line of insurance in Michigan. OFIR conducted an investigation initiated by a complaint filed by a closing agent. It found that Charles Brian Lovejoy, G.A.I.F.'s vice president, sold title insurance without a license.“Selling title insurance in this state without a license is illegal," OFIR Commissioner Kevin Clinton said. “Consumers who were sold coverage by Lovejoy should call us immediately.”
OFIR urged consumers who may have been sold coverage by Lovejoy to contact the Department.
The cease and desist order extended to G.I.A.F., Inc., d/b/a GIAF Escrow Services, d/b/a DBBA Home Mortgage, d/b/a GIAF Mortgage, Zakiiyah Lovejoy, President, Charles Brian Lovejoy, Vice President, James Stewart, Director, and The Kaizer Group, LLC. Failure to comply with the cease and desist order could result in a civil fine of not more than $1,000 for each violation, not to exceed an aggregate civil fine of $30,000. However, if the person knew or reasonably should have known the conduct was in violation of the cease and desist order, the civil fine could be up to $25,000 per violation, not to exceed $250,000. Restitution to all persons in Michigan damaged by the violation could also be imposed.
GIAF's Web site indicates a business address at 20700 Civic Center Drive, Suite 170, in Southfield, Michigan. According to the company, "Homeownership is still truly the American Dream for most homebuyers today. At GIAF Escrow Services, we are committed to protecting that dream."
The Web site makes no mention of any underwriter. The OFIR did not identify any underwriter on behalf of whom GIAF issued commitments and policies.