A home is one of the most important investments that you will make. Therefore, it is important that your loan servicer is properly managing your home loan. Homeowners have a right to expect that their mortgagee complies with the terms of their mortgage. However, this is not always the case.
Finkelstein, Blankinship, Frei-Pearson & Garber, LLP is currently investigating a matter involving Seterus, Inc., one of the nation’s leading loan servicing companies. Escrowed homeowners insurance and property tax payments are usually included as part of a homeowner’s monthly mortgage payment. Under such terms, a homeowner is not required to make these payments independently because they are automatically debited with the monthly mortgage payment. However, Seterus, Inc. allegedly allowed at least some homeowners’ insurance policies to lapse and they are now possibly seeking to profit from it.
We are currently investigated claims where Seterus, Inc. has allegedly failed to pay a homeowner’s insurance premiums included in a mortgage for a period of time despite payment from a mortgagor. Seterus, Inc. has reportedly since billed the mortgagor for insuring the property separately through Seterus, Inc. during the lapse in coverage.
If you have, or had a mortgage with Seterus, Inc. please contact our office so that we can discuss your legal options.