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Force-placed insurance is a hot topic in today’s mortgage landscape. Across the country, lawsuits have targeted lenders and mortgage servicers that obtain insurance coverage for secured real property and charge the costs of that insurance coverage to the borrower. Recently filed cases have alleged that lenders artificially inflated force-placed insurance costs, imposed force-placed insurance on properties that were allegedly adequately insured, failed to reinstate  borrowers’ homeowners policies before force-placing hazard insurance and wrongly imposed force-placed insurance policies that increased borrowers’ monthly payments, thereby causing them to default on their obligations. Plaintiffs’ counsel are actively pursuing class action and individual claims against lenders and mortgage servicers for the force-placement of insurance coverage.

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