Nationstar Mortgage named in class action lawsuit in connection with use of force placed insurance

Nationstar Mortgage named in class action lawsuit in connection with use of force placed insurance

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Nationstar Lawsuit Investigation Challenges Private Mortgage Insurance. Audet & Partners, LLP is investigating claims by customers of Nationstar Mortgage that the company violated federal law by failing to remove Private Mortgage Insurance (PMI) once borrowers’ loan to value ratio dropped below a statutory threshold.

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Ask The Expert Answers.. When we received money from insurance, the bank, First Tech, took the amount of money necessary to cover our mortgage and placed it in an account. We requested the 2% interest rate for this account. Now, the bank paid us a 0.05% interest rate and wrote us that this is not an escrow account.. Lender was not named.

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A large investor was extending a bullish position in Nationstar Mortgage before its quarterly results this morning. optionMONSTER’s market scanner shows that 9,500 January 10 calls were sold for $2.80.

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If you think that you may have been a victim of an unfair force-placed insurance policy, contact Parker Waichman LLP today to find out about joining a class action lawsuit. Avoiding Force-Placed Insurance. In most cases, when a consumer has a mortgage, insurance premiums are added to their mortgage payment.

Law360, New York (November 9, 2015, 10:08 PM ET) – A Florida federal judge Monday approved a $76 million settlement to end a class action accusing Nationstar Mortgage of colluding with force-placed insurance providers to make lucrative profits, a deal that increased by $22 million at a final fairness hearing.

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