Chase Ducks Late Reinsurance Kickback Suit At 3rd Circ.
Law360 (June 19, 2019, 8:56 PM EDT) -- JPMorgan Chase Bank NA has escaped a proposed class action alleging the company referred home buyers to mortgage insurers for kickbacks via reinsurance payments after the Third Circuit said Wednesday in a published opinion that borrowers filed their claims too late.
A circuit panel upheld a Pennsylvania federal court ruling last year dismissing as untimely the Real Estate Settlement and Procedures Act suit, finding that two theories raised by named plaintiffs Christopher Blake and James Orkis fell short of meeting the act’s one-year statute of limitations — both of which needed to prove successful to revive the 2013 action.
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