April 8th, 2012 
davidguide A bank and six mortgage insurance companies have been named as defendants in a lawsuit that alleges illegal kickbacks. Plaintiffs seek class-action certification. Attorneys in the case are some of the same attorneys who successfully litigated similar cases before the Third U.S. Circuit Court of Appeals in 2009. At issue are $54 million in re-insurance premiums on which the bank had little risk. The premiums allegedly amounted to “a sham” and violated the Real Estate Settlement Procedures Act .
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