A New Jersey federal judge has dismissed a class action lawsuit alleging mortgage loan servicers and insurers charged borrowers for kickbacks when buying lender-placed insurance policies.
The borrower – whose property became inhabitable because of mold infestation – also accused the defendants of conspiring to undervalue losses on LPI-covered properties, then misappropriating the insurance proceeds when his New Jersey property was damaged.
Read on to learn why the case was dismissed.
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