Santa Clara, CA: A proposed $25.7 million settlement has been reached in a putative Racketeer Influenced and Corrupt Organizations Act (RICO) class action lawsuit brought by a group of homeowners against Wells Fargo. The lawsuit alleges the bank ordered repeated property inspections and concealed the nature of charges to delinquent borrowers for the service.
If approved, the settlement would end seven years of litigation. The homeowners have asked the judge to grant final approval and class certification.
"The settlement benefits the class by conferring a guaranteed, immediate, and substantial benefit of $25,750,000 and avoids the risks and expenses of continued litigation, including the risk of recovering less than the amount of the settlement fund after substantial delay or of recovering nothing at all,"the homeowners said in the motion for final approval.
The court granted preliminary approval of the settlement in September. If final approval is granted, the class could include more than 2.7 million homeowners.
The case is Huyer et al v. Wells Fargo & Co. et al, case number 4:08-cv-00507, in the U.S. District court for the Southern District of Iowa.
Attorney/s did request that the judges approve that the plaintiffs receive $10,000 dollars. I received a postcard with my number that stated that the Law suit was for improper inspections done by Wells Fargo. All this evident is a formal contrast between the Attorney/s and plaintiffs . Unfair enrichment is one option. Appeal for open records .
Posted by KSingleton
This settlement is a joke...$7.00
Posted by Kelly McGrath
$1:00 big A** dollar. I say do not cash it. It is Wells Fargo way of getting you to Except and let them Bail Out. Call the Hot Line and Bitch Big Time. SCREW Wells Fargo
Posted by Lindsey
$12.06 received today, what a joke. The lawyers got all of the money they need to be sued,,,
At the time I got my card for this lawsuit, it said that as an Active member of this law suit, I would get $10k and the rest would be prorated out. I got my check today, and I kid you not, it is for $1.00. I have waited all this time for $1.00 while the lawyers got over 8 million. What was the point of this lawsuit other than to make money for the lawyers? So R Rapoza, you did better than I did!
Posted by RRapoza
I received a settlement check today for $47.04. I can now retire. Anyone know when the Wells Fargo Identity Theft, I mean multiple accounts opened without customer consent will settle? Gonna put that one on the wheel in Vegas baby.
Posted by steve0
What a joke...I was charged by Wells Fargo over $100 in false charges and my settlement after 7 years is going to be $10??? WTF, shouldn't we at least get our money back? I'm sorry I even wasted my time keeping track of this over the years. jeeez
Posted by Anthony
do the math 25.7 mil divided by 2.5 million people is about $10 a person .Its not worth worring about when the checks are coming in the mail.
Posted by Anthony
Janet are you kidding me what are you worring about.Are you really waiting for a $2 CHECK?
Posted by janet turner
are checks from wells fargo property inspection settlement going to be mailed out before end of 2017?
Posted by Anthony
I wound't worry when checks are being mailed out.Its only gonna be a few dollars each maybe 2 or three dollars.
Posted by janet turner
When will checks from wells fargo property inspection settlement start coming out?
Posted by william v. hall jr.
when will I get my check
Posted by Renee NICASTRO
All appeals are finalized. Where's the checks?!
Posted by Shelly Gillett
Wells Fargo has appealed, this can take years to resolve as they can appeal several times.
Posted by Sam B
Are checks being mailed in December 2017?
Posted by Carrie
What a joke, the only people that benefits from class action lawsuits are the attorneys and the courts. The rest of us get absolutely nothing but a few crumbs. The greedy attorneys are the ones that need suing. They take most of the money and the poor people that were taken advantage of get messed over twice!!
Posted by Wendy Dalton
Any updates on this?
Posted by Bertha S Mckeel
Please email me about my settlement and when we can receive it?
Posted by patricia Green
i am trying to find out about wellsfargo property settlement
checks, i am a class member and my mortage was paid out infull, , i haven't heard anything about my payment. please let me know something.
Posted by Jeff D
$25.7M settlement divided by 2.7M Plaintiffs (us) = $10 each for the payout. Do you feel about that?
Posted by Darryl Wray & Sherry Wray
How can we find out when we will get our payment? We have been waiting a long time on this. Do we need to fill out some form? 911 recently changed our address but it's the same house same mortgage company. Thanks in advance for your help.
Posted by Rodney Dockstader
I AM TRYING TO GET MY LOAN NUMBE IN BUT IT WIL NOT LET ME. I DO BELIEVE AI HAVE POSSIBLY MULTIPALE CASES IN THIS
Posted by Cheryl turner
How much are we getting?
Posted by curtis trapp
when the checks be mailed.
Posted by Exequiel E Dulce
Wells Fargo approved me for a Four months trial periods. I paid the mortgage payment on time during the trial period. The fourth trial mortgage payment was paid two weeks before the due date for 2010 December payment, but Wells Fargo bank did not accept the payment. The next month, January 2011, the broker of the Wells Fargo Bank post a Foreclosure letter on the front of my house. I got surprised, and they gave us a three months to move.
Posted by Thomas c mattesen
Wells Fargo is a crooked bank.i didnt have the problems some of you had but I did have my share of problems with them going back more then 10 years ago, they lie and they cheat,haven't had any type of loan from them in 10 years and never will, I walked away from a couple deals like buying a hot tub etc. because Wells Fargo was the lender, I hope I get my lawsuit money from them soon, and some of them go to jail
Posted by Curtis Trapp
I would like to know when the check going to be mailed been waiting a long time
Posted by Jean Lavoile
i want to know when we are going to get the check
Posted by Bertha Mckeel
I got behind in my mortgage twice and the last time I received a . modifications loan, because of sickness with myself and both my children was hurt and they have to move in with me and my income couldn't over all our expense. I can't believe they charge me extra fees and that knew the problem I was having.
Posted by Yolanda Jackson
Ok wells fargo let me help you out on fake accounts.
1. Your looking in the wrong place start with the dam credit bureau. If you notice all the fake accounts have 1 thing in common. The same dam credit bureau. Or at least 80% do. Follow that lead.
2. I reported this back in 2002 I think, somewhere around that time. And when I was up north. There was in account in AZ/ TX. But then after a few months to a year it disappeared off of your credit report.. Strange very strange.
3. Then on top of screwing your loyal customers wells fargo charge them with fake insurance they don't need..like flood insurance.
4. Sadly it targets the minority community or as we like to say poor folks. Which is the back bone of this great USA
5. The scam is called B&S (bait and Switch) check the chi town area. Basically. Consumers will see an inquiry on their credit report from wells Fargo. What I believe wells fargo was doing is monitoring consumers credit to see. Which sucker they can open an account on...people flag wells fargo on your credit report as a possible scam so you can be notify.
Now the switch.. The wells fargo open the account, report it in just enough time so the agent can get his/her bonus or percentage. Then they must remember to go back and delet the account from your credit file... Actually it's. Brilliant
Why? Because the credit bureau are so lackadaisical when it comes to big companies they look the other way.. Trust me someone at eqifax already new about the scam ;)
6. Yes! I had accounts open. I reported it in 2002 the agent ????. Whose laughing. Now
Oh! Wait til the scam about..refinancing or we will give you cash to leave your house or to help you move..????
I am disappointed in wells fargo. They represented the American Dream. Now they have become a nightmares. How Dare wells fargo treat their loyal customer like poop.
Oh yeah folks...your bank info stays on file only 7 years.. If your house is paid for or sold to another lender good luck getting wells fargo to make good on past screw ups..they will claim they can't. Find no info on you lol.
Also look at all the scams wells fargo have been in....or look in class action. I never got a chance to get my moola back from the class action miss the filing date...butbe ware.. Shit is about to hit the fan....but big banks will surive because there is another scam to be sold..
Love you all...block wells fargo on you credit report for now just fyi...very disappointed
Posted by Curtistrapp
I would like to know when will check be mailed out
Posted by V. Butler
I bought a home nine years ago and the mortage company was MortgageIT (another story), who sold it to GMAC who sold it to Wells Fargo. I had a snowball effect happen to me. My husband got laid off his job and had to get a modification which didn't really help, but made it worse...it seemed the price kept going up on my mortage, instead of down. Then in 2012 my husband had a stroke and I called and tried to work with Wells Fargo, another modification...over all in nine years owning my home, I've had three modifications.
Posted by Catherine Waters
Anne Hernadez, you are doing everything right and it will be worth it. Do not give up. I also was tricked into forclosure. ie: trial HAMP payments only partial payments and refused any payments after claiming forclosure. Sheriif sales, Court orders the whole schmeal for 4 years. Finally got the HAMP. Kept my house. Now just watching the settlement check's roll in. They just sold my mortgage in December 2015. It better NOT interfere with them paying back all the equity they stoled in the form of monthly inspection fees.
Posted by janet turner
wells fargo inspection fee settlement pay outs,-when will they begin to send out checks. up dates are few and far apart.
Posted by Ann Hernandez
Started off with Wells Fargo-they sold to Country Wide who then sold to Bank Of America who then sold to SPS select Portfolio Servicing....only to find out that Wells Fargo owns the house again.
They have along the way Robo signed documents and there is mortgage Fraud with these mortgage companys
Ive had my house in Sheriffs sales several times and Ive stopped them. The last one being on 7/6/16
Ive been working with SPS while they play the paper shuffle LOSING the paperwork along the way.Making me resubmit all documents to do a modification to again make me resend in all documents only to say they have lost or have missing documents! IM CALLING BULLSH!T!
I NEED HELP AND CANT FIND OUT WHOS MINDING THE GATE. NO GATE KEEPER HERE!
Posted by Sherrie R
I am glad the nightmare from hell is finally over. Wells Fargo had people peeking in my house windows to make sure we were living there after they refused to accept a payment from me. My husband and I both signed papers, but some one in the unorganized corporation lost my signature. How in the world does that happen, they also told me at the time I was not allowed to make a payment on my own house as i tried to explain to them, I signed for the house, they told me it would be a while for them to investigate this. We also made a payment to them, and they sent 2 months of payments back so it would be 90 days late. They said we were in breach of contract do to vacating the property, even though we were current on our payments. We had our house up for sale with a licence realtor. Needless to say our house went into foreclosure, we fought for several months, but they put the electricity in there name and shut the electricity off, which fill the basement with water. Made it very hard for us to work with them, I could go on... Thankfully we bought another house quickly with finance from another bank. I feel for anyone who had to deal with that company.
Posted by t pena
Wells Fargo is the master servicer for my mortgage which was originated through American Home Mortgage and is now in a trust of a trust.
Listed as Master Servicer: Wells Fargo Bank, N.A.
They have all screwed me over and are still doing it. Would we be able to be included in this settlement?
Posted by Fulvio Marano
I am being screwed over by Wells Fargo and sps loan servicing who handles there collection are criminals ..
Posted by JoAnn Kennedy
Wells Fraudgo fabricated a loan with a fake address and then signed my late husband's name to it and submitted it to Fannie Mae in 2005. Husband died in 1998. the legal address was made to look like it was fake and the fake address was made to look like it was legal.
Posted by joann loffler
Wells Fargo sold my mortgage after Freddie Mac forced them to buy back their bad loans they steered innocent victims into. A bank that buys bad nonperforming loans at discount rates continue to add the these same charges on the loans passed on by Wells Fargo. I have been in litigation since 2009 with a ROBO signed foreclosure. I was forced into default by Welks Fargo when I was never late on a mortgage payment. I hounded Welks Fargo over the bad mortgage they steered me into ,using dishonest tactics and practices. My loan has fraud all over it. I demanded they make corrections and adjust the loan the way it was suppose have been when I signed the papers. They refused to act with honest and fairness. If I had done what they have done, I would be sitting prison! My question is, why are they still in business and why are they still free to continue the bad dushonest practices they have continued to engage in! I say protest until they are shut down and locked up....
Posted by DColbert
Crying shame what homeowners have to endure to own just 1 tiny piece of 'The American Dream'. All mortgage and mortgage-related institutions should be HIGHLY monitored & regulated by U.S. Federal laws that forbid such practices or else each committal of such 'greedy' attempts will be cited not only a $5 mln fine for each occurrence but the business will lose its license to operate and all it's owner's, partner's and administrative personnel will not be permitted to form a new company ever (even if done in names of their family members, affiliates, or friends as is so often done). That is what every homeowner in the 'good, old U.S. of A. should begin to let it sink in and then don'the request, don't ask, but instead outright DEMAND from their ELECTED Government Officials. Otherwise, I warn you all that debacles such as this shall continue and worsen in forthcoming years. DO NOT ALLOW THIS TO OCCUR!
Posted by allen sanford
Does this settlement include the illegally generated mortgages that Wells acquired when it purchased Wachovia?? If so, then a lot more people in California have money coming!!!
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