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Wilbur Ross quits Ocwen Financial

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Items Tagged with 'force-placed insurance'

ARTICLES

Compass Point: Walter Investment most at risk of FHFA forced-placed insurance suit

Nonbank servicers could be targeted
Ben Lane
If the FHFA chooses to sue over force-placed insurance rates, "it could have a material impact on special servicers that have a less diversified revenue base and service highly delinquent GSE mortgage portfolios," analysts from Compass Point Research and Trading said.
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FHFA-OIG: FHFA should sue over force-placed insurance practices

Excessively priced insurance cost GSEs $158 million in 2012
Ben Lane
The Federal Housing Finance Agency’s Office of the Inspector General is suggesting that the FHFA sue its servicers and lender-placed insurance providers because Fannie Mae and Freddie Mac have suffered “considerable financial harm” in the LPI market.
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How to avoid getting sucked into a force-placed insurance fight

CFPB enforces 5 standards. Know them.
Jacob Gaffney
Force-placed insurance is a controversial subject. It pulls big players such as Bank of America into big fights. While it is a necessary function in many instances, the charge for the service often draws ire. Follow these rules to avoid getting sucked into a fight.
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Bank of America, HSBC Holdings settle forced-insurance lawsuits

HousingWire Staff
Bank of America and HSBC Holdings Plc agreed to settle lawsuits concerning property insurance that borrowers were forced to accept after homeowners alleged that the banks got a financial windfall by cutting deals with insurance companies and over-charging borrowers for the coverage.
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FHFA directs GSEs to restrict force-placed insurance practices

Limitation of practices may squeeze lenders, taxpayers
Christina Mlynski
The Federal Housing Finance Agency is directing Fannie Mae and Freddie Mac to restrict forced-placed insurance practices, which is a follow up from a notice the agency published in March regarding its views on such practices.
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NY proposes tougher force-placed insurance rules

HousingWire Staff
Months after reaching settlements totaling more than $24 million with insurers accused of providing improper commissions to banks, New York is taking action and proposing a new set of tough rules to curb kickbacks in the force-placed insurance market.
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Bank of America's fight over force-placed insurance

Homeowners suing BofA over forced-placed insurance want class-action status
HousingWire Staff
Borrowers claiming harm from force-placed insurance want class-action status in their suit against Bank of America.
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