Developments in Lender-Placed Insurance Claimsand Loan Modifi cation Litigation in ConjunctionWith the Home Affordable Modifi cation Program(HAMP)
Speakers
Christy A. Ames
Member
Stites & Harbison, PLLC
David M. Bizar
Seyfarth Shaw LLP
Roland P. Reynolds
Partner
Palmer, Lombardi & Donohue LLP
- Assessing recent claims alleging that banks engaged in deceptive practices relating to lender-placed insurance
- Potential violations of TILA, RICO, and other consumer protection laws
- Possible collusion among lenders and insurance companies
- Results of state investigations: NY, CA, IL
- NYSDFS regulation of lender-placed insurance
- How lenders can defend against and mitigate operational and reputational risks relating to their lender-placed insurance practices
- Loan mod litigation and HAMP
- Complying with the requirements for a permanent modifi cation
- 30-day trial period
- Borrower claims
- Effective defenses
- The rise in HAMP-related False Claims Act litigation
- Mortgage fraud considerations in relation to HAMP