Bank Of America Awarded Summary Judgment In Private Mortgage Insurance Suit

Bank Of America Awarded Summary Judgment In Private Mortgage Insurance Suit

PHILADELPHIA - A federal judge in Pennsylvania on Nov. 18 dismissed a class action suit accusing Bank of America Corp. of violating the Real Estate Settlement Procedures Act (RESPA) by engaging in a scheme to collect kickbacks and referral fees from private mortgage insurers after finding that the plaintiffs' claims were barred by the statute's one-year limitations period (Thomas J. Riddle, et al. v. Bank of America Corp., et al., No. 12-1740, E.D. Pa.; 2013 U.S. Dist. LEXIS 163526).

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