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Class action lawsuit on forced-placed insurance for reverse mortgages gets green light 

Jan 08, 2019By

A federal judge in New Jersey denied a motion to dismiss a class action lawsuit over force-placed insurance policies for reverse mortgage borrowers. The suit claims that CIT Bank, its former subsidiary Financial Freedom, and three insurance companies conspired to defraud borrowers by charging excessive fees for forced-placed insurance applied to their properties.

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Updated 11 months ago