Mortgage-Related Unfair Practices
Wells Fargo Mortgage Forbearance Enrollment Without Consent Class Action
In an earlier scandal, Wells Fargo was caught opening credit card and other accounts for clients without their knowledge or permission. The complaint for this class action alleges that Wells Fargo & Company and Wells Fargo Bank, NA have now enrolled some mortgage customers in Covid-19-related forbearance programs without their knowledge or permission. Read more
PHH Mortgage Telephone Pay-to-Pay Charges Class Action
The word “mortgage,” the complaint for this class action tells us, literally means “death pledge.” The complaint’s topic is actually slightly less dramatic: It alleges that PHH Mortgage Corporation violates various consumer-debt-related laws in charging excessive fees to borrowers who make over-the-telephone payments. Read more
AmeriHome Mortgage Telephone Pay-to-Pay Charges Class Action
AmeriHome Mortgage Company, LLC, the complaint for this class action estimates, “has a $23 billion portfolio of mortgage servicing rights.” However, it charges a fee of up to $2 when borrowers make their mortgage payments over the telephone. The complaint alleges that this “Pay-to-Pay” fee is unlawful. Read more
Bank of America Unauthorized Escrow Account Class Action
Bank of America is a large entity, with a portfolio of outstanding consumer loans worth $236 billion. But the complaint for this class action alleges that the bank sells consumers add-on products with their mortgages that they do not want. In addition, the complaint says, it may be difficult for consumers to get rid of Read more
Wells Fargo Fraudulent Affidavits to Extend Liens Class Action
When a financial company has made what it calls a mistake in its loan documents, it should not be able to change those terms in its favor, unilaterally and without the knowledge of the borrowers. But the complaint for this class action alleges that that’s what Wells Fargo did with certain home equity lines of Read more
LoanCare Incorrect Mortgage Late Fee Settlement
LoanCare, LLC, a subservicer of mortgage loans, is spending nearly a million dollars to settle a class action about its late fees on mortgages governed by an FHA promissory note that limited late fees. The complaint alleged it incorrectly calculated the fees, basing them on PITI (principal, interest, taxes, and insurance) rather than P&I (principal Read more
PHH Mortgage, HSBC Bank Improper Right to Cure Notices Class Action
Foreclosures are likely to be hard to undo. Nevertheless, the complaint for this class action asks that the court “declare any foreclosure deed for [the class members in this case] null and void.” It claims that PHH Mortgage Corporation (formerly known as Ocwen Loan Servicing, LLC) and HSBC Bank USA, NA, as Trustee for Fremont Read more
US Bank, Ocwen, Wells Fargo Mortgage Satisfaction New York Class Action
When a homeowner has paid off a mortgage or home loan, the event must be officially recorded. The New York state laws specify that this proof of satisfaction must be presented to the appropriate New York county clerk within thirty days. The complaint for this class action alleges that US Bank, NA, Ocwen Financial Corporation, Read more
Mortgage Processing Fees for Online or Phone Payments Investigation
Have you ever made a mortgage payment online or over the telephone? Were you charged a fee for it? Many such “processing” fees are unlawful. This may be because they are not permitted under the mortgage agreement, or because they are much higher than the actual cost of processing. We’re investigating to see if a Read more
Wells Fargo Referral to Patriot Land Transfer Settlement
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. Read more