Your clients may be eligible for restitution. Specifically, certain homeowners-borrowers are eligible for restitution in a couple of settlements arranged by the New York State Department of Financial Services with several force-placing insurance companies. Remember that even if your clients no longer live in New York State, they may be eligible for restitution under these settlements.
If your clients are eligible, they have until no later than Monday, August 26, 2013 for their claim forms to be postmarked to the New York State authorities identified on the claim forms. Criteria for eligibility are set out in attachments to the Consent Orders entered in two (2) proceedings. The Consent Orders are posted on the website of the New York State Department of Financial Services. You can also link to them here for your convenience: Download NYS.Balboa.Meritplan.BA.QBE.041813.ConsentDecree and Download NYS.QBE.041813.ConsentDecree.
In addition, the necessary Claim Forms are also posted on the New York State Department of Financial Services' website. You can also link to copies of them here: Download NYS.Balboa Meritplan Settlement Restitution ClaimForm.Due to be Postmarked NLT 082613 and Download NYS.QBE Restitution Program Claim Form.To be Postmarked NLT 082613. They must be postmarked no later than August 26, 2013, says the official NYS DFS website.
Time is of the essence as they say.
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