Daily Archives: February 24, 2014

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FLORIDA: FORCE-PLACED INSURANCE PRACTICES – EXCELLENT CASE!

FLORIDA: FORCE-PLACED INSURANCE PRACTICES – EXCELLENT CASE!

Florida: Force-placed insurance practices – excellent case! Hall, et al. v. Bank of America; Balboa and QBE (insurance companies). This is a class action suit alleging Bank of America’s manipulation of the force-placed insurance market, whereby Bank of America engages in exploitative and self-dealing practices for its own benefit, was to the detriment of its borrowers (homeowners). Bank of America and its subsidiary, Balboa, entered into a relationship whereby all force-placed insurance for Bank of America borrowers was purchased from Balboa. In return, Balboa paid a kickback equal to a percentage of each force-placed insurance policy to Bank of America. This relationship benefited both Bank of America and Balboa at the expense of Bank of America consumers. Sound familiar? Read the initial Complaint and Amended:

http://stopforeclosurefraud.com/wp-content/uploads/2014/02/Hall-v-BA-CMP.pdf

http://stopforeclosurefraud.com/wp-content/uploads/2014/02/Hall-v-BOA-FAC-CMP.pdf

http://stopforeclosurefraud.com/wp-content/uploads/2014/02/Hall-v-BOA-SAC-CMP.pdf

 

 

Video

38 year banking veteran has some choice words about CA AG and National Mortgage Settlement

Candice Jones, retired Bank Fraud Analysis Expert from Santa Barbara, CA and FDIC and Resolution Trust Corp. expert, lays out how we are all sold out to the National Mortgage Settlement.