Blogatative Easing: Ben Bernanke, Brookings blogger

Blogatative Easing: Ben Bernanke, Brookings blogger

Return to the scene of the crime?

Mortgage brokers: Update your stump speech on mortgage lending, Mr. President

NAMB says mortgage brokers have been at forefront of reform

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution
W S
Lending / The Ticker

Bank of America, HSBC Holdings settle forced-insurance lawsuits

legal steps
/ Print / Reprints /
| Share More
/ Text Size+

According to Bloomberg, Bank of America (BAC) and HSBC Holdings Plc (HSBC) agreed to settle lawsuits concerning property insurance that borrowers were forced to accept.

So-called force-placed insurance is taken out on homes by banks or mortgage servicers when, for example, a homeowner’s policy lapses or the bank decides the borrower doesn’t have enough coverage. The homeowners alleged that the banks got a financial windfall by cutting deals with insurance companies and over-charging borrowers for the coverage.

Source: Bloomberg
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus