Status: open
Caliber Home Loans (Forced-Placed Insurance)
Defendant: Caliber Home Loans, Inc.; American Security Insurance Company
Caliber Home Loans and American Security Insurance Companyagreed to a settlement regarding its lender-placed insurance (“LPI”) practices on homeowners. The lawsuit alleges that Caliber Home Loansforced borrowers to purchase unnecessary expensive hazard, flood, or wind-only insurance. Borrowers who paid for residential LPI between January 1, 2011 and October 31, 2018 may be eligible to receive back 6 %, 4.5%, or 3% of the premium.