Insurance news investigation includes accusations of kickback scheme

California Insurance company Fraud scam

These allegations are appearing in the mortgage coverage sector and are being investigated by federal regulators. The latest insurance news has revealed that federal regulators have started a massive investigation into allegations of a mortgage coverage kickback scheme that has driven costs for homeowners skywards for nearly two decades. The first action in the investigation has been conducted around a bank and lender kickback scheme. The Consumer Financial Protection Bureau announced the first insurance news that showed that the investigation is focused specifically at a scheme where lenders and banks…

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Mortgage insurance under investigation by Consumer Financial Protection Bureau

mortgage Insurance Investigation

Potential kickback deals being checked into over billions in premiums. The consumer finance watchdog group for the government is currently performing an examination and analysis of deals that brought in billions of dollars in premiums that were charged by mortgage insurance companies to borrowers through the banks that made the loans. These deals were suspected to have brought in kickback. According to the civil lawsuits which have been filed by legal experts and borrowers, this is because the banks were said to have applied pressure to the mortgage insurance companies…

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