Flagstar Accused Of Reinsurance Kickback Scheme
A complaint in Pennsylvania federal court accuses Flagstar and its affiliate Flagstar Reinsurance, along with Genworth Mortgage Insurance Corp., Republic Mortgage Insurance Co., Mortgage Guaranty Insurance Corp. and Radian Guaranty Inc., of setting up a sham captive reinsurance arrangement to allow kickbacks and unearned fees to flow to Flagstar.
According to the suit,...
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