A federal judge in Camden has largely denied a motion to dismiss a class action lawsuit over “force placed” insurance policies for holders of reverse mortgages.
Mortgage lender CIT Bank, mortgage servicer Financial Freedom Senior Funding Corp. and three insurance companies moved to dismiss the suit, which claims the defendants conspired to engage in abusive practices against a class of holders of reverse mortgages. But U.S. District Judge Renee Bumb denied the motion to toss the nine-count complaint, except to dismiss a count for tortious interference against the insurance company defendants.
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