Homeowner Says To Court: Reinsurance Scheme Existed With Mortgage Insurance

Mealey's (December 28, 2017, 2:07 PM EST) -- TRENTON, N.J. — A homeowner argues in his Dec. 4 opposition brief filed in a New Jersey federal court that an insurer and a bank engaged in kickbacks and entered into “riskless captive reinsurance arrangements” for the insurer to “reinsure” property insurance force-placed on borrowers (Mufti Quarashi v. M&T Bank Corp., et al., No. 17-06675, D. N.J.)....