3rd Circuit: Filed-Rate Doctrine Bars Suit Over Force-Placed Insurance Scheme

Mealey's (July 7, 2020, 2:10 PM EDT) -- PHILADELPHIA — The Third Circuit U.S. Court of Appeals on July 1 affirmed the dismissal of a suit filed by New Jersey and North Carolina borrowers who contended that the lender of their reverse mortgages, an insurer and an insurance agent engaged in a kickback scheme that involved charging borrowers excessive rates for force-placed insurance policies, finding that the filed-rate doctrine bars the plaintiffs' claims (Edward Leo, et al. v. Nationstar Mortgage LLC of Delaware, et al., No. 19-3111, 3rd Cir., 2020 U.S. App. LEXIS 20526)....