Status: closed
Residential Credit Solutions (Forced-Placed Insurance)
Defendant: Residential Credit Solutions
Residential Credit Solutions (“RCS”) agreed to a settlement regarding its lender-placed insurance (“LPI”) practices on homeowners. The lawsuit alleges that RCS forced borrowers to purchase unnecessary expensive hazard, flood, or wind-only insurance. Borrowers who paid for residential LPI between January 1, 2008 and August 9, 2017 may be eligible to receive back 6% of the premium.