Borrowers accusing Nationstar Mortgage LLC of colluding with force-placed insurance providers to make lucrative profits asked a Florida federal judge on Monday to finalize a $54 million settlement of their class action, calling it an “extraordinary” result for the plaintiffs.
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As founding partner of Kozyak Tropin & Throckmorton and co-chair of the firm’s bankruptcy practice, John W. Kozyak has earned a host of professional accolades. He has been recognized in every edition of Best Lawyers In America since it was first published in 1983.
Two members of a settled class action accusing Bank of America NA of accusing the bank of overcharging homeowners for forceplaced insurance told the Eleventh Circuit on Tuesday that the $228 million deal shouldn’t have been approved because the settlement amount is illusory.
Anyone who has taken out a home mortgage knows that one of the borrower’s key responsibilities is to pay hazard insurance premiums on the property and not let the policy lapse. But are you aware that if you fail to keep the insurance current, or if the premiums aren’t paid from your escrow account, the lender or its mortgage servicer can obtain its own coverage, which may cost you more than the policy you originally chose?
Co-Author, Expert Opinion Testimony in Florida – Navigating the Mine Field, 2015 Fla. Construction Law Institute (March 2015).
“Representing Closely Held Businesses in Bankruptcy; Identifying Potential Conflicts of Interest” – for use at the ABA Business Law Section Annual Meeting, September, 2014
“The Florida Agency for Health Care Administration (AHCA) Releases List of Recent Licensure Actions Against Medical Providers,” Florida Bar Health Law Updates, May- June 2014.
Florida Bar, Professional Fiduciary: Responsibilities and Duties (Operating Receiverships)
Compilations and Derivatives Under the Copyright Act, ABA Intellectual Property Litigation Newsletter, Spring 2011, Volume 22, Issue No. 3.
Making BP’s Blood Curd-Le: Duty, Economic Loss, and the Potential Cardozian Nightmare After Curd v. Mosaic Fertilizer
Kozyak Tropin & Throckmorton is a complex commercial litigation firm founded in 1982 that focuses its practice on bet-the-company commercial cases, class actions, healthcare and bankruptcy matters.