Items Tagged with 'lender-placed insurance'

ARTICLES

  • Appeals court revives class-action suit against Nationstar for redundant flood insurance

    Reverse mortgage borrower alleges "improper" insurance cost her thousands
    A federal appeals court in Florida overturned a previous ruling last week that will mean Nationstar will now have to face allegations from a reverse mortgage borrower that it violated Florida law by charging homeowners for unnecessary flood insurance. The ruling could unleash a wave of trouble for the servicer, who now must face the possibility that the class-action suit will bring other such stories to light.
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  • Insurance Tip: What To Know About Lender-Placed Insurance

    Lender-placed insurance has been a hot topic in the press lately and most of the publicity has been negative. Based on what has been written, it’s easy to see why demands are being made to change to a product that is critical to protecting the mortgage industry and the borrowers it serves. Public opinion might change if it were known that: 1) Each mortgage agreement requires the borrower to maintain homeowner’s insurance. 2) When it is determined that a borrower has failed to maintain coverage, numerous letters are sent and phone calls are made to the borrower in an effort
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