July 24, 2016 6:41 PM ET

Thrifts and Mortgage Finance

Company Overview of Homeward Residential, Inc.

Company Overview

Homeward Residential, Inc. operates as a residential and non-depository mortgage lender in the United States. The company offers standard loans; additional overlays for higher loan amounts, such as FNMA high balance loans and FHMLC super conforming loans; DU Refi Plus that streamlines refinance option to qualified borrowers; mortgage insurance; and other loans. It also offers non-delegated program for mortgage companies who do not want to assume the risks involved with underwriting; and home equity solutions. It offers its services for residential and commercial mortgage assets. Homeward Residential, Inc. was formerly known as American Home Mortgage Servicing, Inc. and changed its name to Ho...

1525 South Beltline Road

Coppell, TX 75019

United States

Founded in 2007

Phone:

469-645-3132

Fax:

972-829-7284

Key Executives for Homeward Residential, Inc.

Executive
Director of Production Operations
Director of Lending Operations
Director of Post Closing
Compensation as of Fiscal Year 2016.

Homeward Residential, Inc. Key Developments

Homeward Residential, QBE Insurance Corporation and WL Ross & Co. Faces Amended Class Action Lawsuit over Mortgage Escrow Charges for Force-Placed Hazard Insurance

An amended complaint has been filed in a class action lawsuit against Homeward Residential, QBE Insurance Corporation, WL Ross & Co., and certain of their affiliates in connection with an allegedly unlawful scheme to recoup overstated disbursements for force-placed hazard insurance from homeowners. The amended complaint, filed by the law firm of Kirby McInerney LLP on March 8, 2016 in the United States District Court for the Southern District of Florida, alleges that QBE Insurance and its affiliates gave Homeward secret premium rebates or kickbacks on its force-placed hazard insurance, but homeowners were nevertheless charged for reimbursement based on the full premiums materially in excess of Homeward’s true disbursements, which had been reduced by the rebates. The overstated force-placed hazard insurance charges were incorporated into homeowners’ monthly mortgage bills, and charged to homeowners’ mortgage escrow accounts.

Homeward Residential, QBE Insurance Corporation and WL Ross & Co. Face Class Action Lawsuit over Mortgage Escrow Charges for Force-Placed Hazard Insurance

A class action lawsuit has been filed against the mortgage servicing firm Homeward Residential, QBE Insurance Corporation, WL Ross & Co., and certain of their affiliates in connection with an allegedly unlawful scheme to recoup overstated disbursements for force-placed hazard insurance from homeowners.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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