Insurance Law/RESPA

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Question
I HAVE HAD FORCE PLACED POLICY ON MY MORTGAGE LOAN SINCE 2002.ARE WE COVERED BY THE LAWS OF RESPA DUE TO THE NEW CHANGES OF 2010 AND 2011.

Answer
Hi Victoria-
I'm more involved with homeowners, auto insurance.  I googled RESPA, and here's a brief quote:

RESPA is about closing costs and settlement procedures. RESPA requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. RESPA is a HUD consumer protection statute designed to help homebuyers be better shoppers in the home buying process, and is enforced by HUD.

So, again, I'm not an expert in mortgage loans, but I would guess maybe not.  If the issue is the forced placed insurance, if you've had a good record with them, perhaps they would consider removing the forced placed insurance.  

Sorry I can't be of more help.  :)

Denise  

Insurance Law

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Denise

Expertise

I am a licensed Property/Casualty agent in the state of Wisconsin, a Certified Insurance Counselor and a Certified Insurance Service Representive, with a 15+ year background in personal insurance underwriting. I am currently working in the Homeowners and Auto field, and was licensed in Life and Health insurance years ago. I can provide input if you will give me a "one paragraph what`s the story", however depending on the situation, do note that as policy forms and endorsements vary by the state, the information may be general and educational in nature.

Experience

20+ Years

Organizations
CIC, CISR, API

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