STORY FROM: Reinsurance & Arbitration
Pa. Federal Judge Tosses RESPA Action Against Bank, Reinsurer, Says Claims Time-Barred
January 26, 2018
PITTSBURGH - A Pennsylvania federal judge has tossed a lawsuit accusing a bank and its captive reinsurer of violating the Real Estate Settlement Procedures Act by engaging in a kickback scheme involving private mortgage insurance, finding the claims are time-barred.
In a Jan. 19 order, Judge Mark R. Hornak of the U.S. District Court for the Western District of Pennsylvania found that with due diligence, the plaintiffs could have pursued their claims within RESPA's one-year statute of limitations. As such, the limitations period is not equitably tolled, the judge said.
In January 2012, Linda Menichino and 12 other named plaintiffs ...
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