Wells Fargo BPO Mortgage Fees Class Action Settlement

Settlement Structure: Claims Made

Active: Closed

Closed Settlement Statement:

According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.

Case Summary:

The plaintiffs in this class action lawsuit allege that the fee Wells Fargo assessed borrowers for Broker’s Price Opinions (BPOs) was improper because it was greater than the amount Wells Fargo paid to the brokers who performed the BPOs.  A BPO is an informal valuation of property, like an appraisal, but it is typically performed by a real estate broker. 

Docket Number:


Company: Wells Fargo

Class Period: May 6, 2005 to July 1, 2010

Objection Deadline: March 9, 2017

Exclusion Deadline: March 9, 2017

Final Approval Hearing: April 4, 2017

Proof of Purchase: Eligibility:

You are included in this settlement if:

  • you are a resident of the United States,
  • who had a residential mortgage serviced by Wells Fargo Bank, N.A., and
  • you paid for one or more Broker’s Price Opinions in an amount greater than the amount Wells Fargo paid a third-party vendor or real estate broker for the BPO
  • from May 6, 2005 through July 1, 2010. 

Those who have already received a Notice will automatically receive a settlement payment.  If you believe you are eligible and have not received a notice, contact the Claims Administrator.  The contact information can be found below.

Typical Settlement Amount:

Settlement shares will be divided on a pro rata basis, depending on the number of valid claim forms submitted. The shares are currently estimated to be $113.96.

Total Settlement Amount: $50,000,000

Class Representative Proposed Incentive Fee:


Law Firms:
Baron & Budd
Cossich Sumich Parsiola & Taylor LCC
Kingsmill Reiss LLC

Case Name: Bias v. Wells Fargo & Company et al.,

Settlement Website: Bias v. Wells Fargo

Claims Administrator:
Epiq Systems

Claims Administrator Contact Information:

Bias v. Wells Fargo Administrator
c/o Epiq Systems Inc.
P.O. Box 2876
Portland, OR 97208-2876

Tags: Mortgage-Related Unfair Practices, Unlawful Fees, Your Bank