April 04, 2014
Balboa Insurance Co. won permission Thursday to mount a rare interlocutory appeal against a racketeering class action alleging it bribed GMAC Mortgage LLC for the right to provide force-placed hazard coverage, setting up a Second Circuit showdown over whether the suit fails because its premium rates are state-approved.
November 22, 2013
Balboa Insurance Co. on Thursday asked a New York federal judge to let it appeal her ruling barring its argument that government-approved premiums are unassailable in a class action alleging it paid GMAC Mortgage LLC kickbacks for force-placing policies, saying the matter is too important to await a final judgment.
September 30, 2013
A New York federal judge on Monday upheld a racketeering class action targeting kickbacks Balboa Insurance Co. allegedly paid to GMAC Mortgage LLC for force-placing hazard insurance policies, saying the lender may have gouged borrowers when demanding reimbursement for coverage.
May 02, 2012
GMAC Mortgage LLC was hit Monday with a putative class suit in New York alleging it received kickbacks from a hazard insurer that forced homeowners to obtain expensive policies, joining the ranks of top lenders to face such claims.