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Wells Fargo FHA Post-Payment Interest Settlement

Settlement Structure: 
Case Summary: 

Wells Fargo is settling yet another class action with a $30 million payout. The complaint alleged that Wells Fargo violated the terms of the promissory notes underlying certain FHA-insured home loans when it collected post-payment interest without providing proper disclosure to borrowers who made prepayment inquiries, requested pay-off figures, or tendered prepayment. Post-payment interest is interest for the remainder of the month during which the loan was paid off. 

Docket Number: 
Wells Fargo
Class Period: 
Saturday, June 1, 1996 to Tuesday, January 20, 2015
Objection Deadline: 
Tuesday, November 20, 2018
Exclusion Deadline: 
Tuesday, November 20, 2018
Final Approval Hearing: 
Tuesday, November 20, 2018
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