Settlement Structure: Claims Made
Active: OpenCase Summary:
This settlement resolves two cases against Countrywide Financial Corporation, Countrywide Home Loans, Inc. Countrywide Bank, NA, Bank of America Corporation, LandSafe, Inc., and LandSafe Appraisal Services, Inc. for invalid property appraisals. According to the complaint, when Countrywide received mortgage applications from certain persons, it ordered a property appraisal by LandSafe and charged the applicants a fee for it. However, the complaint alleges, the appraisals were not valid because they were not property prepared under the Uniform Standards of Professional Appraisal Practice.Docket Number:
Company: Countrywide Financial Corporation
Filing Deadline: January 1, 2100
Class Period: January 1, 2003 to December 31, 2008
Objection Deadline: June 15, 2020
Exclusion Deadline: June 15, 2020
Final Approval Hearing: July 13, 2020Proof of Purchase:
You do not need to submit a claim form. Presumably company records will be used to identify class members.Eligibility:
The Nationwide Class for this action is all residents of the US who, between January 1, 2003 and December 31, 2008, obtained an appraisal from LandSafe in connection with a loan from Country wide.
The Texas Class is all residents of Texas who, between January 1, 2003 and December 31, 2008, obtained an appraisal from LandSafe in connection with a loan from Country wide.Typical Settlement Amount:
A check for a percentage of the amount paid for the appraisal fee. The estimated percentage is currently 22%, so that if the fee you were assessed was $500, you would receive $110. If the amount of the fee is unavailable or unreliable, the check will be for $25. The actual percentage used to determine the amounts of checks may be higher or lower.
Total Settlement Amount: $250,000,000 plus up to an additional $250,000,000 to administer the settlementClass Representative Proposed Incentive Fee:
Up to $15,000.00 each
Baron & Budd
Case Name: Barbara Waldrup v. Countrywide Financial Corporation; Beckie Reaster, Rebecca Murphy v. Countrywide Financial Corporation
Settlement Website: Countrywide Home Appraisal Settlement Website
Epiq Class Action & Claims Solutions, Inc.
Waldrup v. Countrywide Settlement
P.O. Box 3727
Portland, OR 97208-3727