An insurance company may not include a homeowner’s mortgage company as a payable party for money issued to the homeowner to cover losses, a Philadelphia judge has ruled, because the mortgage company was not mentioned in the settlement agreement between the parties and because the losses did not reflect “catastrophic destruction.”
Common Pleas Court Judge Idee C. Fox, in an opinion upholding her decision, said the court correctly enforced the agreement between Maritza Rodriguez and her insurer, the Phoenix Insurance Co., because of the deference courts give to valid settlement agreements and because this particular agreement does not mention Countrywide Home Loans, the mortgage company.
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