Settlement Structure: Claims Made, Direct Benefit
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:This lawsuit alleges that Wells Fargo charged mortgagee's for a property inspections if the mortgage payment went past due. Specifically, Wells Fargo ordered a property inspection whenever a borrower fell behind on mortgage payments by forty-five days or more, and then ordered subsequent inspections every twenty-five to thirty-five days for as long as the borrower remained delinquent. Plaintiffs claim that these property inspections ordered by Wells Fargo were unnecessary and that their cost should not have been assessed to borrowers. Plaintiffs also alleged that the true nature of these charges was concealed from borrowers by labeling them as “Other Charges.”
Docket Number:
4:08-CV-507 RP-CFB
Company: Wells Fargo
Filing Deadline: March 16, 2016
Class Period: August 1, 2004 to December 31, 2013
Objection Deadline: December 22, 2015
Exclusion Deadline: December 22, 2015
Final Approval Hearing: January 21, 2016
Proof of Purchase:Postcard Notices of this Wells Fargo class action settlement will be mailed to eligible Class Members on or before Oct. 17, 2015.
Eligibility:If you have or had a mortgage serviced by Wells Fargo and owe or paid a property inspection fee assessed during the period August 1, 2004 through December 31, 2013 (the “Class Period”), you are a Class Member.
Typical Settlement Amount:Each Class Member’s portion of the settlement will be calculated depending on which settlement category they fall into and how many class members choose to file a claim.
Total Settlement Amount: $25,750,000
Class Representative Proposed Incentive Fee:$10,000
Law Firms:
Reese LLP
Scott+Scott
Strom Law Firm
Case Name: Young v. Wells Fargo & Co.
Claims Administrator:
Garden City Group, LLC
Wells Fargo Inspection Fee Settlement
c/o Garden City Group, LLC
P.O. Box 10106
Dublin, OH 43017-3106
(855) 382-6434