According to the class of plaintiffs, who purchased homes in Pennsylvania between 2006 and 2008, some of the nation’s largest banks and insurance companies engaged in an illegal captive reinsurance scheme related to private mortgage insurance. The plaintiffs weren’t even aware of the possibility of such a scheme until they were contacted by a class-action litigation firm in 2011, but now, having met the federal pleading standards for a violation of RESPA, their case will move forward.
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