Congress approves restrictions on force-placed insurance
Posted On: December 5th 2013
In response to numerous problems with insurance obtained by a servicer when a borrower’s policy lapses or is canceled, Congress included in the Dodd-Frank Act new restrictions on “force-placed insurance.” New regulations implementing the Dodd-Frank Act amendments to RESPA dealing with force-placed insurance go into effect on January 10, 2014. The purpose of these amendments,…
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