LEGAL NOTICE IF YOU REFINANCED A RESIDENTIAL MORTGAGE IN CONNECTICUT YOU MAY BE ENTITLED TO BENEFITS FROM A CLASS ACTION SETTLEMENT The District Court has authorized this Notice. It is not a solicitation from a lawyer. You are not being sued. There is a proposed settlement with Defendant Chicago Title Insurance Company in a class action lawsuit pending in the U.S. District Court for the District of Connecticut. The lawsuit involves title insurance premiums paid in connection with real estate closings. The lawsuit claims that Chicago Title charged too much for lenders title insurance policies in some mortgage refinance transactions. Chicago Title denies all wrongdoing. Chicago Title has entered into a proposed settlement. Class Members will be entitled to recover either $150 or a pro rata share of the entire settlement amount depending on the final number of Authorized Claimants. Class Members include persons or entities who, during the Class Period, refinanced mortgages on residential property in Connecticut and paid an amount more than the refinance rate for a lender s title insurance policy issued by Chicago Title, but could have qualified for the refinance rate (see details below). The name of the lawsuit is Deborah Mahon v. Chicago Title Insurance Company, Case No. 3:09-cv- 00690-AWT. The Court will be asked to decide whether to approve the proposed settlement in this case. A Summary of Your Rights and Choices Your Legal Rights Are Affected Even If You Do Not Act. Read This Notice Carefully. You May: Remain in the Class & File a Claim Exclude Yourself Object to the Proposed Settlement Stay in the lawsuit and file a claim. If you wish to stay in the Class and file a claim, you must do so by submitting a claim online or by mail on or before the date listed. Whether or not you file a claim, if you don t exclude yourself, you will not be able to sue Chicago Title for the claims in this lawsuit, and you will also be bound by the Court s decision. See Questions 8 and 9. Get out of the Class. You can write and ask to get out of the Class and keep your right to sue Chicago Title on your own about the claims in the lawsuit. See Questions 10 and 11. Object or comment on the proposed settlement. If you don t exclude yourself, you can appear and speak in the lawsuit on your own or through your own lawyer to object to or comment on the Proposed Settlement. See Questions 12 and 13. Due Date: Submitted Online By 11:59 p.m. (Eastern Time) on May 29, 2018 or Postmarked By May 29, 2018 Postmarked By May 29, 2018 Postmarked By May 29, 2018
WHAT THIS NOTICE CONTAINS BASIC INFORMATION... 3 1. Why did I get a Notice?...3 2. What is the lawsuit about?...3 3. What does Chicago Title say about the lawsuit?...3 4. Why is this a class action?...3 5. Why is there a proposed settlement?...3 6. How do I know if I am included in the proposed settlement?...3 BENEFITS OF THE PROPOSED SETTLEMENT: WHAT YOU GET...4 7. What does the proposed settlement provide?...4 8. How do I file a claim?...4 REMAINING IN THE CLASS...5 9. What am I giving up if I do nothing and stay in the Class?...5 EXCLUDING YOURSELF FROM THE PROPOSED SETTLEMENT...5 10. What do I do if I don t want to be in the proposed settlement?...5 11. How do I exclude myself from the proposed settlement?...5 COMMENTING ON THE PROPOSED SETTLEMENT..6 12. Can I object to or comment on the proposed settlement?...6 13. What is the difference between objecting to the proposed settlement and excluding myself from the proposed settlement?...6 THE LAWYERS REPRESENTING YOU...7 14. Do I have a lawyer representing my interests in this case?...7 15. How will the lawyers be compensated?...7 16. Should I get my own lawyer?...7 17. Payment to Class Representative...7 THE COURT S FINAL SETTLEMENT HEARING...7 18. When and where will the Court decide whether to grant final approval of the proposed settlement?...7 19. Must I attend the Final Settlement Hearing?...8 20. May I speak at the Final Settlement Hearing?...8 GETTING MORE INFORMATION...8 21. Where do I obtain more information?...8 2
BASIC INFORMATION 1. Why did I get a Notice? You received a Notice because records indicate that you purchased a lender s title insurance policy from an attorney or other title agent who sold a Chicago Title policy in connection with a mortgage loan on property in the State of Connecticut. 2. What is the lawsuit about? On April 28, 2009, Plaintiff Deborah Mahon filed a class action lawsuit against Chicago Title in the United States District Court for the District of Connecticut. Mahon alleges that Chicago Title improperly failed to charge the discounted refinance rate for lenders title insurance policies in some residential mortgage refinance transactions. The lawsuit is pending before Judge Alvin W. Thompson. A proposed settlement has been reached with Chicago Title. This Notice describes the proposed settlement and explains your rights. 3. What does Chicago Title say about the lawsuit? Chicago Title denies any wrongdoing. The proposed settlement is not an admission of wrongdoing or an indication that any law was violated. Chicago Title has entered into the proposed settlement to avoid further expense, inconvenience, burden, and uncertainty of this lawsuit. Chicago Title also wishes to avoid the distractions and diversion of its personnel and resources. 4. Why is this a class action? In a class-action lawsuit, one or more people called class representatives sue on behalf of people who have similar claims. The people together are a class or class members. A court must determine if it will allow a lawsuit to proceed as a class action. If it does, a trial of the claims then decides the lawsuit for everyone in the class, or the parties may settle without a trial. The Court certified this lawsuit as a class action on September 30, 2013. 5. Why is there a proposed settlement? A settlement is the resulting agreement between a plaintiff and defendant following extended negotiation in a case. Settlements end litigation but are not a result of the court ruling in favor of either the plaintiff or the defendant. The settlement allows both parties to (a) avoid the cost and risk of a trial and (b) establish a just, fair, and final resolution that is best for all involved. The class representative and her attorneys make the determination that the settlement is the best result for all class members. The Court then reviews the terms of the proposed settlement and holds a hearing on the fairness and adequacy of the settlement. If the Court approves the settlement, Chicago Title is released from any liability based upon the alleged improper behavior that is the basis of the lawsuit. 6. How do I know if I am included in the proposed settlement? For purposes of the proposed settlement, the Class consists of all person who: a. Paid for a lender s policy of title insurance issued by Chicago Title and its agents in connection with the refinancing of a mortgage loan on residential property located in Connecticut that was completed any time from January 1, 2000, to September 26, 2006 (the Class Period ), where the same premises had been mortgaged within the previous ten-year period by a mortgage loan from 3
a bank, mortgage bank, credit union, or other financial institution that was the primary loan used to purchase the property or to refinance (i.e., pay-off) all previously existing mortgages on the property (an Institutional First Mortgage ); b. Paid more than the discounted refinance rate under Chicago Title s then-applicable rate manual; c. Had no intervening change in fee ownership of the premises since the prior Institutional First Mortgage (other than the addition or deletion of a family member); and d. Appear or whose current or former property address appears on the Class Mailing Notice List. You received this notice because records show that Chicago Title issued a title policy to your lender during the Class Period insuring a mortgage on your property in Connecticut. But the records don t show for certain that your mortgage was a refinance (versus a purchase), that the property was residential (versus commercial), that your previous mortgage was within 10 years, that the property covered by the prior mortgage was the same, that the ownership of the property didn t change (except for addition or deletion of a family member), and that you paid for the closing costs when Chicago Title issued the title policy to your lender. So you will have to submit a Proof of Claim Form and Release (see Question 8) to be included in the proposed settlement. BENEFITS OF THE PROPOSED SETTLEMENT: WHAT YOU GET 7. What does the proposed settlement provide? Chicago Title has agreed to pay the following: a. Settlement Payments to Class Members who submit a valid Proof of Claim Form and Release (see below); b. Costs of notice of the Settlement; c. Claims administration expenses; d. Class Counsel s fees and expenses as awarded by the Court; and e. A class representative enhancement award to Plaintiff Deborah Mahon as awarded by the Court. In order to submit a Proof of Claim Form and Release, Class Members must visit the website: www.rg2claims.com/chicagotitle.html or request a paper copy of the Claim Form by calling 1-866-742-4955. Class Members who submit a valid claim ( Authorized Claimants ) will be entitled to a Settlement Payment of $150 each, unless the total amount of valid claims exceeds $200,000, in which case each Authorized Claimant will receive a pro rata share of $200,000. 8. How do I file a claim? To submit a claim, you must visit the following website: www.rg2claims.com/chicagotitle.html. At that website, you must provide all of the information requested. Claims submitted via the website must be submitted by 11:59 p.m. (EST) on May 29, 2018. If you do not have access to the internet, or prefer to submit a paper claim, you can call 1-866-742-4955 and request that a Proof of Claim Form and Release be sent to you. That Proof of Claim Form and Release must be completed, signed, verified, dated, and postmarked no later than May 29, 2018, and addressed to: Claims Administrator RG/2 Claims Administration P.O. Box 59479 Philadelphia, PA 19102-9479 If you do not submit a valid proof of claim by May 29, 2018, you will not receive any payment from the Settlement. 4
REMAINING IN THE CLASS 9. What am I giving up if I do nothing and stay in the Class? The proposed settlement is intended to settle all claims against Chicago Title that Class Members have asserted, or any claims against Chicago Title that Class Members could have asserted in the Class Action with respect to title insurance premiums on mortgage refinancings. The Release and the Released Claims are fully set forth in the Settlement Agreement available at www.rg2claims.com/chicagotitle.html. A copy of that Settlement Agreement can also be obtained by calling 1-866-742-4955. If you are a Class Member and do not exclude yourself, you will never be able to sue Chicago Title for any of the claims in this lawsuit. If you do not file a Claim, you will not receive any Settlement Payment. If the proposed settlement is not finally approved by the Court or does not become final for some other reason, the litigation will continue and you will not have released any claim or party. EXCLUDING YOURSELF FROM THE PROPOSED SETTLEMENT 10. What do I do if I don t want to be in the proposed settlement? If you don t want to be in the Class and you want to keep the right to sue Chicago Title about the same claims on your own, you must take steps to get out of the Class. This is called excluding yourself. By excluding yourself, you keep the right to file your own lawsuit or join another lawsuit against Chicago Title about the claims in this lawsuit. If you exclude yourself from the Class, you will not be able to file a claim for money or benefits and you will not be in the proposed settlement. 11. How do I exclude myself from the proposed settlement? If you decide to exclude yourself, you must prepare a document, such as a letter, reflecting your desire to opt out of the proposed settlement, and include the name of the case (Mahon v. Chicago Title Insurance Company, Case No. 3:09-cv-00690-AWT) and the address of the property for which you purchased title insurance issued by Chicago Title or its agents in connection with the refinancing of a mortgage loan during the Class Period. Your opt-out document must clearly state that you want to be excluded from the Settlement and that you elect to be excluded from any judgment entered pursuant to the Settlement Agreement. You must include your name, current mailing address (if different from the property address), and telephone number. Your opt-out document must be signed and sent via first-class mail, and it must be postmarked on or before May 29, 2018 to: Claims Administrator RG/2 Claims Administration P.O. Box 59479 Philadelphia, PA 19102-9479 Any Class Member who does not properly exclude himself or herself will be bound by the terms of the proposed settlement 5
COMMENTING ON THE PROPOSED SETTLEMENT 12. Can I object to or comment on the proposed settlement? Yes, you can object or comment on all or part of the proposed settlement if you do not exclude yourself from the Class. To object, you must file with the Court and serve on Class Counsel and Chicago Title s counsel a written Notice of Objection. Your Notice of Objection must be filed with the Court by May 29, 2018, to: Office of the Clerk of Court United States District Court District of Connecticut 450 Main Street Your Notice of Objection also must be served on the following Class Counsel and Chicago Title s counsel by first-class mail postmarked on or before May 29, 2018: CLASS COUNSEL William H. Narwold, Esq. Motley Rice LLC One Corporate Center 20 Church Street, 17 th Floor CHICAGO TITLE S COUNSEL Steven A. Goldfarb, Esq. Hahn Loeser & Parks LLP 200 Public Square, Suite 2800 Cleveland, OH 44114 The notice of objection must state each specific reason in support of your objection and any legal support for each objection. It must also state: (1) your full name; (2) your home address; (3) the date(s) of your residential mortgage refinance transaction(s); and (4) the address(es) of the property(ies) subject to the mortgage(s). If you fail to file and serve timely written objections, you will waive any objections you may have. 13. What is the difference between objecting to the proposed settlement and excluding myself from the proposed settlement? An objection to the proposed settlement is made when you wish to remain a Class Member and be subject to the proposed settlement, but disagree with some aspect of the proposed settlement. An objection allows your views to be heard in Court. In contrast, exclusion means that you no longer are a Class Member and do not want to be subject to the proposed settlement s terms and conditions. Once excluded, you lose any right to object to the proposed settlement or to the attorneys fees payable to Class Counsel because the case no longer affects you. 6
THE LAWYERS REPRESENTING YOU 14. Do I have a lawyer representing my interests in this case? Yes. The Court has appointed the following law firm to represent you and other Class Members: MOTLEY RICE LLC William H. Narwold, Esq. One Corporate Center 20 Church Street, 17 th Floor These lawyers are called Class Counsel. You won t be charged personally for these lawyers, but they will ask the Court to award them a fee to be paid by Chicago Title. 15. How will the lawyers be compensated? At the Final Settlement Hearing, Class Counsel may request the Court to award Class Counsel attorneys fees, costs, and expenses of up to $275,000. The fee requested by Class Counsel would compensate Class Counsel for their efforts in achieving the proposed settlement for the benefit of the Class, and for their risk in undertaking this lawsuit. The fees, expenses, and awards approved by the Court will be paid by Chicago Title. 16. Should I get my own lawyer? You don t need to hire your own lawyer. If you want your own lawyer to speak for you or appear in Court, you must file a Notice of Appearance (see Question 20 to find out how to submit a Notice of Appearance). If you hire a lawyer to appear for you in the lawsuit, you will have to make your own arrangement for that lawyer s compensation. 17. Payment to Class Representative At the Final Settlement Hearing, Class Counsel may request the Court to award Plaintiff Deborah Mahon an incentive award as compensation for her role as the class representative and for the responsibility and work accompanying that role. The incentive award approved by the Court will be paid by Chicago Title and will not exceed $5,000. THE COURT S FINAL SETTLEMENT HEARING 18. When and where will the Court decide whether to grant final approval of the proposed settlement? The Court will hold the Final Settlement Hearing in the South Courtroom, at the United States District Court for the District of Connecticut, 450 Main Street, Hartford, Connecticut, on July 5, 2018, at 10:00 a.m. to determine whether the Settlement Agreement should be finally approved as fair, reasonable, and adequate. The Court will also be asked to approve Class Counsel s request for reasonable attorneys fees and reimbursement of expenses and payment of an incentive to Plaintiff Deborah Mahon as class representative. The Final Settlement Hearing may be continued without further notice to the Class or Class Members. It is not necessary for Class Members to appear at the Final Settlement Hearing. Class Counsel will represent all Class Members at the Final Settlement Hearing except for those who choose to enter an appearance through counsel of their choice at their own expense. 7
19. Must I attend the Final Settlement Hearing? Attendance is not required, even if you properly mailed a written response. Class Counsel is prepared to answer the Court s questions on your behalf. But if you or your personal attorney want to attend the hearing, you or your attorney is more than welcome to do so at your expense. However, it is not necessary that either of you attend. As long as the objection was postmarked before the deadline, the Court will consider it. 20. May I speak at the Final Settlement Hearing? If you or your own lawyer wants to speak at the Final Settlement Hearing, you must give the Court a paper that is called a Notice of Appearance. The Notice of Appearance should include the name and number of the lawsuit and state that you wish to enter an appearance at the Final Settlement Hearing. It also must include your name, address, telephone number, and signature. Your Notice of Appearance must be postmarked no later than May 29, 2018. You cannot speak at the Final Settlement Hearing if you asked to be excluded from the Proposed Settlement Class. The Notice of Appearance must be filed with the Court at the following address: Office of the Clerk of Court United States District Court District of Connecticut 450 Main Street The Notice of Appearance must be filed using the following Civil Action Number: 3:09-cv-00690-AWT. A copy of the Notice of Appearance must also be sent to: CLASS COUNSEL William H. Narwold, Esq. Motley Rice LLC One Corporate Center 20 Church Street, 17th Floor Hartford, Connecticut 06103 CHICAGO TITLE S COUNSEL Derek E. DIaz, Esq. Hahn Loeser & Parks LLP 200 Public Square, Suite 2800 Cleveland, Ohio 44114 GETTING MORE INFORMATION 21. Where do I obtain more information? More details are in the Complaint filed by Class Counsel and the other legal documents that have been filed with the Court in the lawsuit. You can look at and copy these legal documents at any time during regular office hours at the: 8
Office of the Clerk of Court United States District Court District of Connecticut 450 Main Street Or you can obtain copies of these documents by visiting www.rg2claims.com/chicagotitle.html. In addition, if you have any questions about the lawsuit or this Notice, you may: Visit the proposed settlement website at www.rg2claims.com/chicagotitle.html Call toll free 1-866-742-4955 Write to: Claims Administrator, RG/2 Claims Administration, P.O. Box 59479, Philadelphia, PA 19102-9471 PLEASE DO NOT CALL THE COURT OR THE OFFICE OF THE CLERK FOR INFORMATION REGARDING THIS PROPOSED SETTLEMENT OR THE CLAIM PROCESS. DATED: March 30, 2018 BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF CONNECTICUT 9