Roundpoint Mortgage Lender Force-Placed Insurance Class Action Settlement
Class Eligibility
All borrowers with mortgage loans secured by property in the United States who, within the Settlement Class Period (as defined below), were charged by RoundPoint under an LPI Policy for Residential Property, and who, within the Settlement Class Period, either (i) paid to RoundPoint the Net Premium for that LPI Policy or (ii) did not pay to and still owe RoundPoint the Net Premium for that LPI Policy.
Estimated Amount
Varies
You will receive 6.75 % of the net premium charged under the LPI policy.
Proof of Purchase
Yes
Case Name
Belanger v. RoundPoint Mortgage Servicing Corporation, Case No. 1:17-cv-23307- MGC
District Court for the Southern District of Florida
Case Summary
This lawsuit involves lender-placed insurance (“LPI”), which is insurance (hazard, flood, flood gap, or wind-only) that is placed on a borrower’s property to protect the borrower and mortgage lender when the borrower’s insurance policy lapses, or when the borrower does not maintain a homeowner’s insurance policy that is acceptable to the mortgage lender. When an LPI Policy is placed pursuant to the borrower’s mortgage contract, RoundPoint pays premiums to the LPI insurer that issues the policy, in this case, Great American, and then RoundPoint charges borrowers for those premiums.
Settlement Pool
N/A
Settlement Website
Deadline
05/13/2019
