Class Eligibility

All borrowers in the United States who, within the Settlement Class Period (August 19, 2010 through November 4, 2016) were charged by Seterus, Inc. under a hazard, flood, or wind LPI Policy issued or procured by QBE Specialty Insurance Company, QBE FIRST Insurance Agency, Inc. n/k/a NGLS Insurance Services, Inc., Praetorian Insurance Company, or QBE Insurance Corporation (collectively, the “QBE Defendants”), for Residential Property, and who, within the Settlement Class Period, either (i) paid to Seterus the Net Premium for that LPI Policy or (ii) did not pay to and still owe Seterus the Net Premium for that LPI Policy. Excluded from the Settlement Class are: (i) individuals who are or were during the Settlement Class Period officers or directors of any of the Defendants or any of their respective Affiliates; (ii) any justice, judge, or magistrate judge of the United States or any State, their spouses, and persons within the third degree of relationship to either of them, or the spouses of such persons; (iii) all borrowers who only had an LPI Policy that was cancelled in its entirety such that any Premiums charged and/or collected were fully refunded to the borrower or the borrower’s escrow account; and, (iv) all borrowers who file a timely and proper request to be excluded from the Settlement Class. Each such qualifying member of the Settlement Class shall be referred to as a “Settlement Class Member.”

Estimated Amount

Varies

You will receive 10.5% of the Net Premium if you were charged for an LPI Policy issued by QBE Specialty Insurance Company during the Settlement Class Period. You will receive 6% of the Net Premium if you were charged for an LPI Policy issued by Praetorian Insurance Company or QBE Insurance Corporation during the Settlement Class Period.

Proof of Purchase

Yes

Case Name

Edwards v. Seterus LPI Settlement
Case No. 1:15-cv-23107-DPG
District Court for the Southern District of Florida

Case Summary

This lawsuit involves Lender-Placed Insurance (“LPI”), which is insurance (hazard, flood, or wind) that is placed on a borrower’s property to protect the borrower and mortgage lender when the borrower’s insurance policy lapses, or when the borrower does not maintain a homeowner’s insurance policy that is acceptable to the mortgage lender. When an LPI Policy is placed pursuant to the borrower’s mortgage contract, Seterus pays premiums to the LPI insurer who writes the policy, and then Seterus charges the borrowers for those Premiums.

All Defendants expressly deny Plaintiffs’ allegations and assert their actions were fully authorized under the mortgage instruments and by law. They also expressly deny that the QBE Defendants paid Seterus “kickbacks” or provided any other improper benefits in connection with the issuance of LPI policies and otherwise deny that they did anything wrong. There has been no court decision on the merits of this case and no finding that Defendants committed any wrongdoing.

Settlement Pool

N/A

Deadline

TBD

Contact


Edwards v. Seterus LPI Settlement
P.O. Box 2995
Portland, OR 97208-2995
1-844-418-6623
info@EdwardsSettlementInfo.com

6 responses to “Seterus Force-Placed Insurance Class Action Settlement”

  1. WL says:

    They should have more class actions brought against them for failure to post payments; falsifying accounts; Actually they should be put out of business.

  2. Rachelle Humphrey says:

    They are the most crooked mortgage servicer on the planet. I successfully won my home back in federal court after they had done MANY ILLEGAL THINGS. They they need to be held accountable. I would still like to pursue further action, as they turned my life upside down for no other purpose than greed and not giving a crap. They are owned by IBM.

    • Patty Stevens says:

      Rachel it would be great if you could let me know what Attorney you used. Seterus has done terrible things to my sister and I documented many of the items for her – her home is in the Chicago area and foreclosed but still occupying the property due to another person who had not been served eviction papers. 906-228-7140 if you would prefer to call me or have your attorney call. Thanks for any consideration you can give.

  3. WL says:

    Yes, Seterus is crooked as can be. Every payment I made I sent via certified mail – return receipt. They lie and commit fraud beyond belief. This is a servicer that needs the Consumer Finance Protection Bureau needs to investigate fully – tear their offices apart. The people you talk with are the rudest individuals. They do not respond to Qualified Written Request (even though Federal Law mandates they do so within 5 days) – Make sure everything you do with them is documented and documented again, correspondence must be sent certified mail-return receipt (make sure you put the certified mail # on your check, payment stub, etc. They are insisting I never paid my property taxes when I have a receipt that shows they were paid to the county. Wish a law firm would go after them for all the other fraudulent practices they have committed nation wide. It’s horrendous

  4. sharon says:

    They are my current Nightmare. I filed an insurance claim, and the insurance company made the check out to both Seterus and myself. The claim is for roof damage, and getting my roof fixed. I am still waiting for the Money Seterus is holding the money hostage. Had I known they would keep the money, i would not have signed the check before sending to them. Meanwhile I have a tarp covering the roof to keep water out. You would think the integrity and up keep of the property would be there priority.

    ADMIN – HI Sharon,

    I don’t think this case has anything to do with money retention by the lender.

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