Mortgage-Related Unfair Practices
US Bank Improper Fees for Payoff Statement Massachusetts Class Action
Mortgages and their servicing are thoroughly regulated, including in the state of Massachusetts. The complaint for this class action alleges that US Bank, NA charges impermissible fees, such as a Payoff Statement Fee and a Discharge Recording Fee, which are included in the Total Amount Due when borrowers request a Payoff Statement for their mortgages. Read more
Wells Fargo Refusal of Loan Modification Supplemental Settlement (Hernandez II)
This is a supplemental settlement for a class action alleging that, between 2010 and 2018, Wells Fargo Bank, NA miscalculated attorneys’ fees when determining whether borrowers qualified for its loan modification program, which was under the US Department of Treasury’s Home Affordable Modification Program (HAMP). The fees should have been compared for the calculation, but Read more
Wells Fargo Put Homeowners into Forbearance Without Their Knowledge Class Action
During the Covid-19 pandemic, the CARES Act asked mortgage companies and servicers to offer forbearance programs for federally-backed mortgages. But the complaint for this class action alleges that Wells Fargo Bank, NA abused this provision by putting homeowners into the forbearance program when they had not requested it. The complaint alleges that this was particularly Read more
PHH Mortgage Charges Added to Payoff Amount Class Action
When a person gets a large bill, they often do not question the individual smaller charges on it. The complaint for this class action alleges that PHH Mortgage Corporation slips in improper extra charges on mortgage payoff documents, which may include a Lien Release Fee and/or a Bank Wire Fee. It brings suit under the Read more
21st Mortgage Addition of Excessive Attorneys’ Fees Class Action
This class action alleges that 21st Mortgage Corporation uses its power over homeowners to add excessive attorneys’ fees to mortgage accounts, in violation of West Virginia law. These fees are also excessive, the complaint claims, in light of the attorneys’ fees permitted by the mortgage contract. Read more
Citizens Bank Interest on Mortgage Escrow Accounts Multi-State Class Action
In certain states, mortgage lenders may be required to pay borrowers interest on their escrow accounts, where payments for taxes and insurance are held until they’re paid once a year. The complaint for this class action alleges that Citizens Bank, NA violates laws in Rhode Island and other states by not paying its mortgage borrowers Read more
Gregory Funding Mortgage Statements TILA and FDCPA Settlement
Gregory Funding, LLC is paying $400,000 to settle a class action alleging it violated the Truth in Lending Act (TILA) and Fair Debt Collection Practices Act (FDCPA) because the statements it sent to customers misrepresented suspense balances. Read more
M&T Bank Pay-to-Pay Fees Settlement
M&T Bank will be paying $3.325 million to settle a class action alleging that it unfairly charged borrowers pay-to-pay fees for making mortgage payments online. The complaint alleged that these fees violated the Fair Debt Collection Practices Act, the Rosenthal Fair Debt Collection Practices Act, and the terms of the borrowers’ mortgage loan agreements. Read more
Nationstar Seizing of Multiple Mortgage Payments Florida Class Action
If you permit your mortgage servicer to withdraw the payment on your mortgage from your bank account each month, is the servicer permitted to withdraw three such payments at once, without notice to you, if you’re in default? The complaint for this class action alleges that Nationstar Mortgage, LLC has been making excessive withdrawals from Read more
Guild Mortgage Fails to Tell Borrower of Right to Cancel PMI Class Action
Home buyers who make a down payment of less than twenty percent may be required to pay for Private Mortgage Insurance (PMI) for a period of time. The complaint for this class action alleges that Guild Mortgage Company, LLC does not tell mortgage borrowers when PMI is no longer required or give them other information, Read more