According to its borrowers’ class action complaint, Countrywide Financial Corp. (“Countrywide”) forces buyers who put less than 20% down on their homes to buy private mortgage insurance (“PMI”) through one of six providers chosen by Countrywide. The providers then allegedly requested Countrywide to “reinsure” the policies with Countrywide affiliate Balboa Reinsurance Co. (“Balboa”) under a [...]
Archive for the ‘Antitrust’ Category
Third Circuit determines that antitrust protections of Real Estate Settlement Procedures Act created a private right of action even if lender did not increase premiums.
Posted in Antitrust, tagged Antitrust, private mortgage insurance, Real Estate Settlement Procedures Act, reinsurance on November 3, 2009 | Leave a Comment »
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