JPML Won't Consolidate Mortgage Insurance Kickback Suits

Law360, New York (September 28, 2012, 6:53 PM EDT) -- The U.S. Judicial Panel on Multidistrict Litigation on Friday refused to centralize in the Southern District of Florida class actions alleging that banks and insurers engaged in kickback schemes that inflated mortgage insurance prices, saying the suits are too individualized.

The panel rejected the motion brought by a group of plaintiffs led by Alberto Barreto to consolidate approximately 60 class actions over hazard, flood and other mortgage insurance. According to the panel’s order, all responding defendants opposed centralization, as did plaintiffs in more than 30 actions....
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