- Standard Charter: $250B | $340 | 0.14%
- Force-Placed Insurance: $45B | $14 | 0.03%
- %Change| 79.77%
I explained to Feigenbaum how annoyed I am that the DFS, CFPB, FHFA, NAIC, and every other regulator I tried working with in this country fails to see the problem with Force-Placed Insurance. She hasn't responded yet, and I don't know (or particularly care anymore) if she ever will. I'm at the point where I'm tired of even trying, so this is the last time I explain what I've been trying to explain since the first time: There are 5 parties involved in Force Placed Insurance:
- The Consumer - You. You are also the Taxpayer.
- The Investor - Usually Fannie/Freddy/VA/FHA...i.e. the Taxpayer...i.e. You.
- The Loan Servicer - Bank of America, GMAC, Wells Fargo, etc. ("The Banks")
- The Insurance Tracker - Assurant/QBE First...contracted by The Banks to manage all insurance processes and transactions (and so much more)
- The Force-Placed Insurer - The Insurance Companies we're all focused on during this scandal, Assurant and QBE First