Reverse Mortgage Lender, Plaintiffs Settle Elderly Financial Abuse, UCL Suit

Mealey's (February 28, 2020, 9:38 AM EST) -- LOS ANGELES — A federal judge in California on Feb. 18 ordered the dismissal of a putative class action alleging that a reverse mortgage lender “is scamming the nation’s senior citizens and their heirs out of millions of dollars” by conducting and charging for numerous property inspections and force-placing property insurance on properties that are insured after being notified Feb. 14 that the parties had reached a settlement (Nancy Palombi, et al. v. American Advisors Group, et al., No.19-cv-2120, C.D. Calif.)....