Mortgage servicers are issuing more forced-placed insurance on loans secured by Florida properties than any other state. But some borrowers in the state claim that the coverage and premiums are ridiculously high and are taking their grievances to court. Sworn testimony before the United States Judicial Panel on Multidistrict Litigation indicated that forced-placed insurance premiums [...]
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Borrowers Suing Servicers Over Forced-Placed Insurance
July 9th, 2012 
davidguide 
Posted in Business Loans 
Tags: florida mortgages, insurance premiums, Judicial, judicial panel on multidistrict litigation, mortgage servicers, Multidistrict, Placed, post, State, sworn testimony, testimony 
Comments OffClass Action Filed Over M.I. Kickbacks
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 [...]
Posted in Business Loans Tags: Circuit, estate settlement, Filed, illegal kickbacks, insurance, insurance premiums, issue, mortgage insurance companies, settlement, settlement procedures, sham Comments Off
