Judge: Assignee Of Mortgage Is Not Entitled To SFIP Coverage For Sandy Damage

Mealey's (February 3, 2017, 4:06 PM EST) -- CAMDEN, N.J. — A New Jersey federal judge held on Feb. 1 that an assignee of a mortgage cannot collect on the insured mortgagee's standard flood insurance policies (SFIP) for a Superstorm Sandy loss that predates the assignment, granting two federal flood insurers’ motions for summary judgment (Goldstein Group Holdings, Inc. v. Hartford Insurance Company of the Midwest, et al., No. 15-03851, D. N.J.; 2017 U.S. Dist. LEXIS 14560)....