Keller Rohrback L.L.P. Announces Investigation of Bank of America Corp. and JPMorgan Chase & Co. Regarding Force-Placed Insurance

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Keller Rohrback L.L.P. Announces Investigation of Bank of America Corp. and JPMorgan Chase & Co. Regarding Force-Placed Insurance

Keller Rohrback L.L.P. Announces Investigation of Bank of America Corp. and JPMorgan Chase & Co. Regarding Force-Placed Insurance

Keller Rohrback’s investigation focuses on alleged abuses by Bank of America and JPMorgan Chase, among others, such as: failing to pay for hazard insurance out of the borrower’s escrow funds, charging homeowners for unnecessary insurance, backdating policies providing coverage retroactively, utilizing their own subsidiaries to provide the hazard insurance, and purchasing policies from companies who share fees or profits with the servicers—often without disclosing this information to the borrower. Keller Rohrback is also investigating the force-placed insurance practices of the following mortgage loan servicers:

Aurora Loan Services IndyMac Mortgage Services
Downey Savings & Loan Litton Loan Servicing LP
EMC Mortgage Corp. Nationstar Mortgage LLC
Financial Freedom PennyMac
GMAC Mortgage, Inc. Saxon
HSBC SunTrust Mortgage, Inc.

Source: Keller Rohrback L.L.P.

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One Response to “Keller Rohrback L.L.P. Announces Investigation of Bank of America Corp. and JPMorgan Chase & Co. Regarding Force-Placed Insurance”

  1. Jacqueline Lyons says:

    I have Litton Loan placing $4700.00 on my escrow account for forced placed insurance that they said they would pay when modification was done. A year later thet tell me I had no insurance for a year, and that is why they are placing this on me. Now for some reason my escrow is. This is a rip off. stating that i am $8000.00 in the negative

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