1st Circ. Reopens BofA Force-Placed Insurance Suits

Law360, New York (September 24, 2012, 4:31 PM EDT) -- The First Circuit on Friday revived a pair of putative class actions claiming Bank of America NA's force-placed insurance practices violated mortgage contracts, ruling it was plausible that the bank had improperly increased borrowers' flood coverage obligations.

A majority of First Circuit judges said U.S. District Judge Nathaniel Gorton in Massachusetts had erred by tossing the lawsuits against Bank of America and mortgage servicer BAC Home Loans Servicing LP, which merged with Bank of America in 2011. However, the appeals court did affirm the dismissal of...
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