Law360, Chicago (December 21, 2015, 4:08 PM EST) -- A Pennsylvania federal judge signed off on dismissal Friday after HSBC Mortgage Corp. settled claims of a putative class of homeowners who sued over alleged kickbacks the bank received for insurance policies it took out on their properties.U.S. District Judge Jan E. DuBois granted the parties' stipulation for voluntary dismissal of the homeowners' claims HSBC accepted fees and commissions from insurance companies after it put expensive force-placed insurance on its borrowers' property when their own hazard insurance lapsed.As part of the settlement, the homeowners' individual claims were dismissed with prejudice but their class claims could be retried, according to... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
HSBC has settled claims of a putative case of homeowners who sued the company over alleged kickbacks the bank received for insurance policies it took out on their properties. The US federal judge granted the parties' stipulation for voluntary dismissal of the homeowners' claims HSBC Mortgage Corp accepted fees and commissions from insurance companies after it put expensive force-placed insurance on its borrowers' property when their own hazard insurance lapsed.