I've just browsed through documentation from the LMI.
No sign of the additional LAF documents or LSC.
The original LMI was with GE. Now it's with a different company. Surely when it changed companies something should have been sent to me as the borrower? How about "Terms and Conditions", contract documents, etc?
Would this tendency of credit providers like banks to change insurers and not let me know what the changes to the conditions etc are come under Insurance Act? Insurance Ombudsman?
I checked my loan documents and I can see where the LMI premium was paid on the loan statements.
I have yet to find out what the time limit on claiming for hardship - plenty of equity left in security property. COSL mentioned that as well.
As well we seemed to be paying a higher interest rate than the standard rate for that lending product.
Mortgage Insurance Proposal...
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Dear All, I am preparing a submission to the FSO to reclaim LMI as I repaid a mortgage after 2 years. The CBA says they won't pay -
Quite likely, Andy. My gut feeling is yes. Reassurance - like another back door bank bailout. Banks want it from everywhere! Poor
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or BFCSA so we can start to clean up the havoc caused by their excess!!!
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US(2012)Genworth caught illegally funnelling $billions(re-issuance)back to originator/banks(@ hyper-rates) effective "kick-back";
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Interesting .... http://www.macrobusiness.com.au/2012/09/is-kohler-right-about-hiking-rates-to-protect-the-dollar/ "... nurse the