Practices of U.S. Bank Home Mortgage Relating to the Release of Insurance Claim Proceeds Investigated by Law Firm of Kirby McInerney LLP

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Kirby McInerney LLP, a class action litigation firm, has commenced an investigation into the practices of U.S. Bank Home Mortgage with respect to the release of the proceeds of insurance claims to borrowers.

When an insurance claim is made for damage to a mortgaged property, the check issued by the insurance carrier (called a "loss draft") is made payable to both the borrower and the mortgage servicer. The servicer has the right to inspect the property to make sure that repairs or rebuilding have been completed before releasing the proceeds of the loss draft to the homeowner.

Frequently, homeowners expend large sums of money on contractor's bills, and rely on the servicer promptly to release the insurance proceeds to reimburse those expenses. Kirby McInerney is investigating whether U.S. Bank Home Mortgage's practices relating to the release of insurance claims proceeds comply with legal requirements. U.S. Bank Home Mortgage is a division of U.S. Bank, which is a subsidiary of U.S. Bancorp (NYSE: USB), and is the seventh largest mortgage loan servicer in the United States.

If you are homeowner or mortgage loan borrower serviced by U.S. Bank Home Mortgage or any other mortgage loan servicer, and have made an insurance claim, you may contact Kirby McInerney partner Mark A. Strauss by email at [email protected], or by telephone at (212) 371-6600 or toll free at (888) 529-4787, to discuss your rights. There is no cost or obligation to you. About Kirby McInerney LLP Kirby McInerney LLP is a New York-based law firm representing plaintiffs in securities, whistleblower, antitrust, and consumer litigation. The firm is committed to the aggressive pursuit of justice and to championing the rights of clients through class action lawsuits, arbitrations, and individual lawsuits. The firm has been profiled by Law360.com as one of the "Most Feared Plaintiffs' Firms," and named to The National Law Journal's Plaintiffs' Hot List. To learn more about Kirby McInerney LLP, please go to our website, www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: http://www.businesswire.com/news/home/20160713006503/en/

Keywords for this news article include: Mortgage, Real Estate, Legal Issues, Kirby McInerney LLP.

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