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RoundPoint Mortgage Lender-Placed Insurance Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:

According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

RoundPoint Mortgage Servicing Corporation has agreed to refund money to borrowers to settle a class action about lender-placed insurance (LPI, also known as force-placed insurance). Mortgage lenders require that homeowners have an LPI policy when the homeowners’ insurance lapses or when the homeowners’ policy is not considered acceptable to the lender. The lender places the policy and pays the premiums, then charges the borrower. The complaint for this class action alleges that RoundPoint was getting unauthorized profits from the placement of the insurance policies and that the premiums and/or the covereage were therefore higher than they should have been. 

Docket Number:

1:17-cv-23307

Company: RoundPoint Mortgage Servicing Corporation

Filing Deadline: May 13, 2019

Class Period: November 1, 2012 to October 12, 2018

Objection Deadline: February 12, 2019

Exclusion Deadline: February 12, 2019

Final Approval Hearing: March 14, 2019

Proof of Purchase:

Proof of identity only is required. Presumably company records will be used for verification of LPI insurance charges.

Eligibility:

You may be eligible if you had a residential mortgage loan on a property in the US and, between November 1, 2012 and October 12, 2018, you were charged by RoundPoint for LPI coverage of the property and during that same period you either (a) paid the net premium for the LPI or (b) did not pay the net premium and still owe RoundPoint for the the LPI policy.

Typical Settlement Amount:

Varies; 6.75% of the net premium charged by RoundPoint during the class period for LPI coverage. Awards may be made in cash or as a credit, depending on whether you paid RoundPoint the premiums for the LPI or still owe for it.

Total Settlement Amount: Unknown

Class Representative Proposed Incentive Fee:

$5,000

Law Firms:
Harke Law LLP
Moskowitz Law Firm PLLC

Claim Form: RoundPoint Mortgage Lender-Placed Insurance Settlement Claim Form

Case Name: Austin Belanger v. RoundPoint Mortgage Servicing Corporation, et al.

Settlement Website: RoundPoint Mortgage Lender-Placed Insurance Settlement Website

Claims Administrator:
JND Legal Administration

Claims Administrator Contact Information:

Belanger Settlement Administrator
c/o JND Legal Administration
P.O. Box 91345
Seattle, WA 98111
1-833-337-8272
info@BelangerSettlementInfo.com

Tags: Forced Placed Insurance, Mortgage-Related Unfair Practices, Servicing Your Mortgage, Your Bank