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August 26, 2014

Citibank to Refund Millions in Force-Placed Insurance Class Action

By Thomas Ressler

The Casey lawsuit also alleged that Citibank increased the amount of force-placed flood insurance required for some borrowers in excess of their unpaid principal balance.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.

47%

Yes, by a lot.

5%

Yes and, heck, we may even do non-QM lending.

14%

No, not at all.

26%

No and we may even tighten credit.

7%