Force-Place Insurance Articles
October 11, 2016. By Gordon Gibb.
Los Angeles, CA: Anyone having trouble believing that their insurance company, or bank could collude in such woeful, self-interested activity as Lender insurance need only look to the alleged activities of State Farm, and Wells Fargo as an indication of behavior unbecoming to their clients, customers and American values.Read [ Force Placed Insurance is a Forced Relationship of the Worst Kind ]
September 6, 2016. By Gordon Gibb.
Washington, DC: There is little doubt that the act of allowing homeowner insurance to lapse on a mortgaged property is not, with little exception, done maliciously. For most, the lapse of property insurance has more to do with human error (forgetting to renew), or financial hardship (“do we pay the insurance this month, or feed the baby?”) There is also little doubt, however that while Lender insurance is a perfectly legal and appropriate response in order to protect the investment of the lender, the extraordinary costs associated with lenders insurance are both mean-spirited and unnecessary.Read [ Forced-Placed Insurances Leaves Homeowners Out in the Cold ]
August 17, 2016. By Gordon Gibb.
New York, NY: Yet another Lender insurance class action lawsuit could soon be in the pipeline with investigation into the machinations of Cenlar FSB, identified as a leading provider of mortgages and mortgage servicing suspected of participation in a ‘cozy’ relationship with a provider of lenders insurance.Read [ Another Forced-Placed Insurance Class Action in the Works ]
July 21, 2016. By Gordon Gibb.
Chicago, IL: As Americans continue to bring Lender insurance lawsuits against entities that allegedly force-place insurance onto property owners at higher rates, Canadians who own property in the US continue to be warned about the potential for lenders insurance.Read [ Plaintiff Files Putative Forced-Placed Insurance Class Action ]
June 24, 2016. By Gordon Gibb.
Newark, NJ: The Lender insurance lawsuits just keep on a-comin’ as homeowners fight back against alleged profiteering on the part of insurance providers and mortgage companies at the expense of the homeowner.Read [ Forced-Placed Insurance Class Action Targets Three Defendants in New Jersey ]
May 7, 2016. By Gordon Gibb.
Toronto, ON: Many a Lender insurance lawsuit has been fought on the premise that not only is Force-Place Insurance sometimes foisted upon an unsuspecting homeowner unnecessarily, but the quality of the product is inferior to standard policies, at increased rates.Read [ Force Placed Insurance Terms More Fact Than Allegation ]
April 6, 2016. By Gordon Gibb.
Miami, FL: A class action Force-placed insurance lawsuit that has been on the books for some time was recently amended, but is nonetheless going forward and alleges that defendants in the case fraudulently and improperly withdrew Lender insurance premiums from the accounts of mortgagees that grossly exceeded the true costs of the lenders insurance, or so it has been alleged in the amended complaint.Read [ Amended Forced-Placed Insurance Class Action Going Forward ]
March 7, 2016. By Gordon Gibb.
Turners Falls, MA: The potential limitations of Force-Place Insurance and the added cost is reflected in the sad story of one homeowner from Turners Falls who experienced a fire in her home. Lender Insurance, as it has been widely reported, tends to be more expensive and offers less coverage than more traditional insurance products.Read [ One Homeowner’s Forced-Placed Insurance Tale of Woe ]
February 7, 2016. By Gordon Gibb.
Miami, FL: Plaintiffs embroiled in a Lender insurance lawsuit against PNC Bank NA will have the opportunity to avoid the rigors of a trial and still receive what has been described as an excellent compensatory agreement following final approval of a settlement worth $32.3 million.Read [ PNC Bank NA Settles Forced-Place Insurance Lawsuit for $32.3 Million ]
December 4, 2015. By Gordon Gibb.
Miami, FL: A Force-placed insurance lawsuit against Nationstar Mortgage and Ocwen Loan Servicing LLC has been settled for a combined payout of $217 million. According to the Daily Business Review (11/11/15), the Ocwen share of the settlement was approved in September for $77 million in a New York court, while the Nationstar settlement, valued at $140 million, was given the nod in early November in Miami.Read [ Billions in Settlement Dollars from Force-Place Insurance Lawsuits ]
- Force-Placed Insurance Lawsuit Alleges Corruption By Gordon Gibb (Nov-20-15)
- New Jersey-based Force-Place Insurance Class Action Can Proceed By Gordon Gibb (Oct-15-15)
- Force-Placed Insurance Class-Action Settlement Approved at $140 Million By Gordon Gibb (Sep-18-15)
- Wells Fargo Hit with Force-Placed Insurance Lawsuit By Heidi Turner (Aug-19-15)
- Force Placed Insurance Defendant Attempts to Toss Lawsuit, Plaintiffs Have None of It By Gordon Gibb (Jul-15-15)
- Defendant Hit with Yet Another Force-Placed Insurance Lawsuit By Gordon Gibb (Jun-4-15)
- HSBC, Assurant Agree to Settle Force-Placed Insurance Class Action for $1.8 Million By Gordon Gibb (Apr-16-15)
- Forced-Place Insurance Continues to Trigger Lawsuits By Gordon Gibb (Mar-13-15)
- Force-Placed Insurance Lawsuits Forcing Industry to Rethink Practices By Heidi Turner (Feb-26-15)
- Forced-Placed Insurance Lawsuits Close to Settling By Gordon Gibb (Jan-9-15)
- Approval Given for Two More Force-Placed Insurance Class-Action Settlements By Heidi Turner (Dec-6-14)
- Force-Placed Insurance Lawsuit Settlement Approved at $31 Million By Gordon Gibb (Nov-6-14)
- Feds Hoping to Recover Hundreds of Millions in Forced Place Insurance Overpayments By Gordon Gibb (Oct-7-14)
- AIG Escapes Defense Bill in Force-Placed Insurance Litigation By Gordon Gibb (Sep-20-14)
- Multistate Forced-Placed Insurance Class Action to Go Ahead By Gordon Gibb (Aug-15-14)
- Force-Placed Insurance Companies Could Face Government Lawsuit By Heidi Turner (Jul-23-14)
- More Settlements Announced in Force-Placed Insurance Lawsuits By Heidi Turner (Jun-13-14)
- Midfirst Bank Settles Forced-Placed Class Action for $2.7 Million By Gordon Gibb (May-23-14)
- GMAC Settles Force-Placed Insurance Lawsuit By Heidi Turner (May-9-14)
- Homeowners and Regulators Take Action against Force-Placed Insurance Companies By Heidi Turner (Apr-26-14)
- Bank of America, QBE Settle Forced-Placed Insurance Class Action for $228 Million By Gordon Gibb (Apr-13-14)
- Federal Judge Gives Nod to $300 Million-Plus Force-Placed Insurance Settlement By Gordon Gibb (Mar-23-14)
- Settlements Reached in Multiple Force-Placed Insurance Lawsuits By Heidi Turner (Mar-15-14)
- Single Mom Takes on Banking Giant in Force-Placed Insurance Bank Lawsuit By Gordon Gibb (Feb-2-14)
- Pennsylvania Couple Had Their Fill of Force-Placed Insurance By Gordon Gibb (Jan-4-14)
- Burned-Out Widow Takes On Insurer in Force-Place Insurance Showdown By Gordon Gibb (Dec-2-13)
- Lender Insurance Company Required to Lower Rates in Florida By Gordon Gibb (Nov-2-13)
- Force-Placed Insurance Lawsuit Settled for $300 Million By Heidi Turner (Oct-11-13)
- When It Comes to Force-Placed Insurance, “Borrowers Don’t Have Many Answers” By Heidi Turner (Sep-20-13)
- Forced-Placed Insurance Lawsuits to Remain in Miami By Gordon Gibb (Sep-6-13)
- Force-Placed Insurance Lawsuit Seeks Class-Action Status By Heidi Turner (Aug-26-13)
- New York Urges National Adoption of Force-Placed Insurance Reforms By Gordon Gibb (Aug-12-13)
- Force-Placed Insurance Companies, Banks Face Regulators and Homeowners Over Policies By Heidi Turner (Jul-31-13)
- Is Florida a Haven for Forced-Place Insurance? By Gordon Gibb (Jul-15-13)
- $20,000 a Month? Thanks, Forced-Placed Insurance… By Gordon Gibb (Jun-30-13)
- Force-Placed Insurance Attorney Weighs In By Jane Mundy (Jun-21-13)
- Wells Fargo to Pay $19 Million in Force-Placed Insurance Lawsuit By Heidi Turner (May-25-13)
- Assurant Inc. Faces $14 Million in Penalties Over Forced-Place Insurance By Gordon Gibb (May-4-13)
- Investigation Underway into Mortgage Insurance Practices By Heidi Turner (Aug-21-12)
- Force-Placed Insurance Begat Huge Profits for Insurers: Hearings By Gordon Gibb (Jun-7-12)