Private Mortgage Insurance

Shellpoint Mortgage Servicing Failure to Cancel PMI Class Action

NewRez, LLC services mortgages as Shellpoint Mortgage Servicing. The complaint for this class action alleges that the company has charged mortgage customers for private mortgage insurance (PMI) premiums, even after the PMI has terminated. The complaint claims Shellpoint has violated the Homeowners Protection Act (HPA) and Illinois state laws and breached its contracts with customers.  Read more

Guild Mortgage Fails to Tell Borrower of Right to Cancel PMI Class Action

Home buyers who make a down payment of less than twenty percent may be required to pay for Private Mortgage Insurance (PMI) for a period of time. The complaint for this class action alleges that Guild Mortgage Company, LLC does not tell mortgage borrowers when PMI is no longer required or give them other information,  Read more

Bank of America Failure to Terminate PMI on Mortgage Class Action

Buyers used to have to make a 20% down payment on a home for banks and other lenders to feel secure in giving them a mortgage. Lenders preferred to risk only 75%-80% of the value of a property and to want buyers to risk significant equity as well. However, as home prices have gone up,  Read more