Alex Day

Washington Insurance Commissioner Orders Cease-and-Desist, $15,000 Minimum Fine for Modus Over Alleged Inducements

Seattle title-and-escrow startup Modus, recently acquired by Compass, received a cease-and-desist order from the Washington state insurance commissioner for allegedly offering inducements (free home warranties and other services) to real estate agents and clients; the company says it will appeal. On June 9 the commissioner also issued a minimum $15,000 fine, but Modus kept operating and its license will not be revoked.