Status: closed
PHH Mortgage Corporation (Forced-Placed Insurance)
Defendant: PHH Mortgage Corporation
PHH Mortgage Corporation agreed to a settlement regarding its lender-placed insurance (“LPI”) practices on homeowners. The lawsuit alleges that PHH forced borrowers to purchase unnecessary expensive hazard, flood, or wind-only insurance. Borrowers who paid for residential LPI between January 1, 2006 and July 31, 2015 may be eligible to receive back 6% or 11.5% of the premium.