M.I. Class Action Continues Against Countrywide
Posted on October 30, 2009
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A Pennsylvania appeals court has overturned the dismissal of a class action against Countrywide Financial Corp., according to the plaintiffs’ attorneys. The plaintiffs allege that they wound up being overcharged for mortgage insurance as a result of alleged re-insurance scheme. Countrywide reportedly limited borrowers to seven mortgage insurers and required that its insurance subsidiary reinsure their policies.
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