RoundPoint Mortgage Lender Placed Insurance Class Action Settlement

RoundPoint Mortgage Servicing Corporation recently agreed to compensate consumers for portions of their LPI policy net premium charges.

The settlement will resolve claims that the mortgage company received illegal kickbacks for implementing lender-placed insurance (LPI) policies through Great American E&S Insurance Company.

LPI policies are typically implemented by mortgage companies when homeowners’ insurance does not sufficiently cover a property based on mortgage terms or if a homeowner’s insurance policy lapses. These policies allow the mortgage to ensure houses are properly covered by hazard, flood, fire, flood gap, and other specialized insurances.

However, RoundPoint allegedly charged LPI premiums in a way which allowed them to collect an unauthorized benefit.

Under the settlement, RoundPoint has agreed to pay 6.75 percent of the net premiums they charged their consumers. This amount will vary between Class Members based on the premium they were charged.

Class Members eligible for payment under the settlement include consumers who were charged a net premium under an LPI policy and either paid the premium or still owe the premium.

Those who made a payment will be reimbursed and those who did not will receive a credit on their account. Eligible Class Members have until May 13, 2019 to submit a valid claim and receive compensation.

Class counsel plans to ask for up to $406,865 for court costs and attorneys’ fees. Plaintiff Adam Belanger who brought the class action will receive a $5,000 service award.

By settling claims, RoundPoint does not admit any wrongdoing. Instead the settlement provides an opportunity for plaintiffs and Class Members to collect compensation while all involved parties avoid the costs associated with continued litigation.

Who’s Eligible

Individuals who were charged by RoundPoint Mortgage Servicing Corporation under an LPI Policy for Residential Property between Nov. 1, 2012 and Oct. 12, 2018 and either paid the net premium for that policy or still owe the net premium for that policy.

Potential Award

6.75 percent of the net premium charged under the LPI policy.

Proof of Purchase

N/A

Claim Form

CLICK HERE TO FILE A CLAIM »

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

5/13/2019

Case Name

Belanger v. RoundPoint Mortgage Servicing Corporation, Case No. 1:17-cv-23307- MGC, in the U.S. District Court for the Southern District of Florida

Final Hearing

3/14/2019

Settlement Website

www.BelangerSettlementInfo.com

Claims Administrator

Belanger Settlement Administrator
c/o JND Legal Administration
P.O. Box 91345
Seattle, WA 98111
1-833-337-8272
info@BelangerSettlementInfo.com

Class Counsel

Adam M. Moskowitz
THE MOSKOWITZ LAW FIRM PLLC

Lance A. Harke
HARKE LAW LLP

Defense Counsel

Brian V. Otero
HUNTON ANDREWS KURTH LLP

Alexander E. Potente
CLYDE & CO US LLP

Robert A. Mintz
MCCARTER & ENGLISH LLP