Settlements for mortgage insurance kickbacks reach $39M in Florida, NJ

Settlements for mortgage insurance kickbacks reach $39M in Florida, NJ

The investigators looked at 160 sham companies in Florida, North Carolina and Illinois, and visited New Jersey. insurance companies were sent to the mailboxes, deposited in bank accounts and.

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Settlements for mortgage insurance kickbacks reach $39M in Florida, NJ. The insurers are American Modern Home Insurance Co. and Southwest Business Corp. The agreement follows another force-placed insurance class action settlement in New Jersey worth nearly $24 million. Nearly 75,000 people were involved, according to the Daily Business Review.

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A national class action suit accusing mortgage providers of taking kickbacks from residential insurers received preliminary approval in Miami last week for $15 million. Florida sues Ocwen.

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A federal magistrate has preliminarily approved three settlements totaling nearly $15 million in a national class action accusing mortgage servicers of taking kickbacks from residential insurers.

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