Wells Fargo Referral to Patriot Land Transfer Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

Wells Fargo Bank, NA and Patriot Land Transfer, LLC have agreed to put up $1.3 million in benefits to settle a class action brought by former customers. The complaint alleged that certain Wells Fargo employees had received benefits from Patriot for referring borrowers to that company, in allegedly improper transactions that negatively impacted the borrowers.

Docket Number:

17-4625 (RMB) ( JS)

Company: Wells Fargo

Filing Deadline: January 1, 2100

Class Period: January 1, 2013 to April 13, 2015

Objection Deadline: June 29, 2020

Exclusion Deadline: June 29, 2020

Final Approval Hearing: September 17, 2020

Proof of Purchase:

No claims forms or proof are necessary.

Eligibility:

You may be eligible if you are an individual who was a borrower or co-borrower on a federally-related mortgage (as defined under the Real Estate Settlement Procedures Act, 12 USC § 2602), originated by Wells Fargo, secured by real property in New Jersey, and for which Patriot handled the settlement, as identified on the borrowers’ HUD-1 settlement statements, between January 1, 2013 and April 13, 2015.

Typical Settlement Amount:

Varies. An amount equal to 180% of the Line 1101 fees on your final HUD-1 Settlement Statement for the subject loan, less the amount of Line 1108 fees on the statement. The formula for the calculation is (Line 1101 – Line 1108) x 1.8.

Total Settlement Amount: $1,300,000 in benefits

Class Representative Proposed Incentive Fee:

$1,500

Law Firms:
Joseph Greenwald & Laake, PA
Lite Deplama Greenberg
Smith, Gildea & Schmidt, LLC

Case Name: Conover, et al. v. Patriot Land Transfer, LLC et al.

Settlement Website: Wells Fargo Referral to Patriot Land Transfer Settlement Website

Claims Administrator:
Rust Consulting, Inc.

Claims Administrator Contact Information:

Conover v Patriot Land Transfer
c/o Rust Consulting Inc – 6794
PO Box 44
Minneapolis, MN 55440-0044
1-866-208-5048

Tags: Kickbacks, Mortgage-Related Unfair Practices