If you were a California borrower of CitiMortgage, Inc. (“CMI”), and paid for lender placed insurance on your CMI loan from March 4, 2004 through August 10, 2010, and that insurance was not subsequently cancelled at no charge to you, you might be eligible for a payment from a class action settlement.
A class action settlement has been reached in a class action lawsuit against CitiMortgage, Inc. (“CitiMortgage” or “Citi” or “CTI” or “Defendant”) in the Superior Court for the State of California, County of Los Angeles (styled Rounds v. CitiMortgage, Inc., Class Action Case No. BC386656) alleging, among other things, that CitiMortgage allowed the assessment of excessive premiums in its lender placed insurance (“LPI”) program on California properties, purportedly in violation of California’s Unfair Competition Law, Business and Professions Code Section 17200, et seq. (the “UCL”), according to the CitiMortgage Lender Placed Insurance LPI class action settlement website and notice.
The proposed CitiMortgage Lender Placed Insurance LPI class action lawsuit settlement reportedly provides for, among other things, that Citi Mortgage has agreed to pay a total sum not to exceed $2,000,000 for settlement class members making valid claims, attorneys’ fees, costs and an incentive award to Plaintiff. CitiMortgage reportedly has agreed to permit each settlement class member to make a claim for a payment of up to $95, which claim must be postmarked by February 12, 2011.
CitiMortgage also has reportedly agreed that, with respect to CitiMortgage’s LPI program, the rate of commissions paid to an affiliate shall be 12%, and a fee in the amount of $.038 for tracking compliance with insurance obligations shall apply, from the date of a judgment granting final approval of the settlement and for two (2) years thereafter (the “New Rate Period”).
For more information about the CitiMortgage Lender Placed Insurance LPI class action lawsuit settlement, including information about how to participate in, be excluded from (or opt out of) or comment on or object to the CitiMortgage Lender Placed Insurance LPI class action settlement, visit the CitiMortgage class action settlement website:
www.bc386656.com
If You Have Thoughts On The CitiMortgage Lender Placed Insurance LPI Class Action Lawsuit Settlement, Share Your Class Action Settlement Comments Below.
Citi-Mortgage is getting away with taking people;s homes, they do not return calls, assigned a employee to you (Veronica Soto) whose name is not even in the directory, she will not return calls, phone will either hang up on you go to dial tone, or you leave countless number of messages to no avail. I was on the phone once , someone had transferred her and heard her talking about me, after realizing I was on the phone, she quickly told me I did not qualify for modification. They fully intend to take your home.
CitiMortgage is trying to take homes away from the elderly. My mother is 87 yrs old and her home is now in foreclosure because of Citi putting hazard insurance on her loan which raised her note to over $200 a month. My mother is on a fixed income and when we tried to talk with them about her not being able to make that payment they stated that there was nothing they could do. My mom is now trying to find a place to go when they take her home. CITIMORTGAGE SHOULD BE ASHAMED FOR WHAT THEY ARE DOING TO THE ELDERLY!
i can’t find the form can you help me
i have tried to get to the web site to file claim for insurance on my now
forclosed home in detroit mi the web address will not come up
the took my home after not allowing me to get a modfication on refinance
and sold my home for 13,000.00