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#2252143 - 04/09/21 10:54 PM Force Placed Insurance - Processing Fee?
Mel in WA Offline
Diamond Poster
Joined: Mar 2013
Posts: 1,266
When you have to force place insurance for hazard and/or flood, can a bank charge a "processing fee"? We discovered this is happening and it feels kind of weird....

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#2252164 - 04/11/21 12:38 PM Re: Force Placed Insurance - Processing Fee? Mel in WA
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
It would be a State law. Might start with both your banking and insurance regulations. In many States a non-licensed insurance agent would not be allowed to charge such a fee.
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