Class Cert. Sought In PHH Captive Insurer Scheme

Law360, New York (February 2, 2010, 3:15 PM EST) -- Homebuyers are seeking class certification in a suit accusing mortgage lender PHH Corp. of working with its captive reinsurer Atrium Insurance Corp. to receive an unlawful cut of the premiums its borrowers paid for private mortgage insurance.

The plaintiffs filed a motion on Monday in the U.S. District Court for the Eastern District of California asking the court to certify a nationwide class of all homeowners who obtained residential mortgage loans through PHH and paid for private mortgage insurance issued by insurers with whom PHH had...
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