FTC Asks Court to Rethink Decision on Adverse Action Notices for High Mortgage Insurance Prices
March 23, 2006
The Federal Trade Commission has added its weight to a lawsuit that alleges that private mortgage insurer Radian Guaranty violated the Fair Credit Reporting Act by failing to provide adverse action notices when borrowers pay high insurance premiums based on their credit history. At issue is a court decision in Whitfield et. al. v Radian, a case that grew out of the decision by plaintiffs Whitney and Celeste Whitfield to take a mortgage from…