Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, April 2, 2006. When Kenisha and Greg Brantly bought their home, they obtained a 100 percent no-down-payment home loan from SouthStar Funding LLC. However, SouthStar required the Brantlys to obtain private mortgage insurance (PMI) to minimize the lender's risk. The lender arranged PMI from Republic Mortgage Insurance Co. The Brantlys pay a monthly PMI premium of $590 for this insurance. In a lawsuit, they contend Republic did not give them the lowest PMI rate and never informed them their premium was increased based on information in their credit reports. Purchase Bob Bruss reports online. The Brantlys further allege Republic Mortgage Insurance never advised them of the credit report and the Fair Credit Report Act (FCRA), which allows them to obtain a copy of that report to dispute entries. Because the borrowers never received an "adverse action notice," as requ...
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