Dennis J. Wall

This book is about the way lenders and their servicers make extra money from hidden mortgage charges. When we sign a loan contract, we almost always agree to buy insurance to protect the collateral. In the case of a house, we agree to maintain homeowner's insurance and protect the lender's interest. If for any reason our own insurance no longer protects the collateral, then the lender can force-place insurance to protect its interest in our collateral, and bill us for the new premium.

The research behind this book rests on public records concerning lender force-placed insurance or "LFPI." It also includes commentary on the issues in newspapers, books, and magazines. For the first time so far as is known to the author, it also includes a thorough review of the Court Files in lender force-placed insurance cases including the National Mortgage Settlement Court File.

The National Mortgage Settlement did not require anyone to end LFPI practices. It only required that LFPI practices be suspended for a short time. Settlements in individual cases likewise include only a moratorium on LFPI practices for a short time, not a ban for all time.

This book concludes with a series of potential recommendations on ending the alleged abuse of LFPI as a way of doing business anywhere in the United States.