Mortgage Broker Settles $15 Million After Homeowners Paid for Insurance They Didn’t Need
A massive $15.5 million settlement has been reached between a Pennsylvania-based mortgage servicer and the state financial regulators after it was accused of imposing “force-placed” insurance on borrowers. The Conference of State Bank Supervisors (CSBS) shared the news in an Aug. 12 press release, explaining how 47 states had taken part in the settlement. Force-placed...
A massive $15.5 million settlement has been reached between a Pennsylvania-based mortgage servicer and the state financial regulators after it was accused of imposing “force-placed” insurance on borrowers. The Conference of State Bank Supervisors (CSBS) shared the news in an Aug. 12 press release, explaining how 47 states had taken part in the settlement. Force-placed...
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