Terminating Private Mortgage Insurance
Sep 29, 2015OUTCOME: Summary Judgment Granted for Plaintiff
Homeowner Plaintiff received a loan modification for his mortgage, which changed the date that his obligation to pay Private Mortgage Insurance ("PMI") ended. Mortgage servicer continued to charge PMI ... , despite the changes caused by loan modification. Federal district court agreed with the Plaintiff that the automatic termination date for PMI can change when a homeowner receives a loan modification. The Court granted the homeowners summary judgment and required mortgage servicer to pay back PMI payments, to pay statutory penalty, and to pay homeowner's attorney fees.
