The Beginning and How We Got Where We Are Now

• Author: Dennis J. Wall
• Pages: 1-9

1.1 The Beginning

The worldwide economic crisis, which in the United States began in 2007–

2008 is often called the Great Recession. It has proved to be the greatest

nancial devastation since the Great Depression. Many books, articles, and

reports have been written about its causes and effects.

1

Mortgage practices

have received their share of attention in short newsletters and in the popular

press.2 Indeed, there seems to be little to add to how the Great Recession

came about and its effects.3

This book focuses on one aspect of that national nancial turmoil: lender

force-placed insurance (LFPI or simply FPI). The facts presented here were

accumulated through investigation concentrating on publicly available

information contained in exhibits to pleadings unsealed in electronic court

les, ofcially reported and also unreported judicial decisions, depositions,

interrogatory answers, allegations in complaints, and answers led in cases

including LFPI cases. Enough information has been made public to allow

the observations that follow about the business practices that have been

followed and also to allow reporting of the allegations that resulted. Some

information has been deliberately kept secret by agreements in all of the

lawsuits that have been investigated since research and writing of this book

began three years ago,

4

but there is still enough information available from

public records to display the outlines of the LFPI story.

1

Chapter 1

The Beginning and How We

Got Where We Are Now

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