Montanez v. HSBC Mortgage Corp.

MEMORANDUM

DuBOIS, District Judge.

1. INTRODUCTION

This case arises from defendants HSBC Mortgage Corporation’s (“HSBC Mortgage”) and HSBC Mortgage Services, Inc.’s (“HSBC Services”) practice of force-placing1 insurance policies on properties that secure mortgages they issued. Plaintiffs — borrowers on whose property defendants force-placed insurance — allege that the premiums on the force-placed insurance policies were unreasonably high and that defendants profited unlawfully by accepting kickbacks from insurers and purchasing unnecessary policies. Plaintiffs assert claims for breach of…