Select Portfolio Servicing Force-Placed Insurance Settlement
Class Eligibility
Class Members of the Select Portfolio Servicing settlement include the following:
“All Borrowers in the United States who, within the Class Period [July 11, 2010 through Oct. 15, 2015], were charged by SPS under a hazard or wind-only LPI Policy for Residential property and who, within the Class Period, either (i) paid to SPS the Net Premium for that LPI Policy or (ii) did not pay to and still owe SPS the Net Premium for that LPI Policy.”
Estimated Amount
Varies
Eligible Class Members who file timely and valid Claim Forms will receive a cash award or a credit of an amount equal to 12.5 percent, 6.5 percent or 5 percent of the net premium they were charged by SPS during the Class Period.
Proof of Purchase
yes
Case Name
Juan Almanzar, et al. v. Select Portfolio Servicing Inc., et al.,
Case No. 14-cv-22586
District Court for the Southern District of Florida
Case Summary
This lawsuit alleges that Select Portfolio Servicing Inc. (SPS) force-placed insurance on borrowers’ property in such a way that SPS received an unauthorized benefit.
The plaintiffs allege SPS force-placed insurance policies in order to receive unauthorized benefits in the form of “kickbacks” from the Assurant defendants. These kickbacks allegedly were handed down in the form of commissions, profits or other income or benefits from the Assurant defendants.
Settlement Pool
N/A
Settlement Website
Deadline
07/25/2016
Contact
Claims Administrator
c/o Rust Consulting
P.O. Box 2445
Faribault, MN 55021-9140
1-855-287-1273
