Class Too Narrow In PHH Reinsurance Suit, Court Told

Law360, New York (May 31, 2013, 6:56 PM EDT) -- A proposed class of borrowers who have accused mortgage lender PHH Corp. of a reinsurance kickback scheme objected Thursday to a California federal judge's recommendation to certify the suit, saying she improperly excluded more than 50,000 borrowers from the class definition.

The plaintiffs said U.S. Magistrate Judge Barbara A. McAuliffe erred by limiting the class to people who obtained residential mortgage loans originated or acquired by PHH and its affiliates on or after June 2, 2007, bought private mortgage insurance and had their loans included in...
To view the full article, register now.