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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
Were you a borrower or a co-borrower on a Wells Fargo residential mortgage loan that was closed by Genuine Title LLC between Jan. 1, 2009 and Dec. 31, 2014? If so, you may be entitled to benefits from a class action settlement.
If approved, this settlement will resolve a class action lawsuit that alleges Genuine Title provided certain unlawful benefits to people, including certain Wells Fargo employees, who agreed to refer borrowers to Genuine Title for the settlement of their residential mortgage loans. The plaintiffs claim that Wells Fargo should be held accountable for its employees’ allegedly improper actions.
Wells Fargo denies the allegations but agreed to settle the class action lawsuit to avoid the expense and inconvenience of trial. Under the terms of the class action settlement, Wells Fargo will pay benefits worth approximately $16.2 million to eligible Class Members.
Class Members who wish to exclude themselves from the Wells Fargo settlement must submit a valid Request for Exclusion by May 14, 2016.
Who’s Eligible
Class Members of the Wells Fargo settlement include the following:
- “All individuals in the United States who were borrowers on a federally related mortgage loan (as defined under the Real Estate Settlement Procedures Act, 12 U.S.C. § 2602) from Wells Fargo Bank N.A. that was closed through Genuine Title between January 1, 2009 and December 31, 2014.”
The Settlement Class consists of two subclasses:
Subclass 1: Includes Class Members whose Wells Fargo mortgage loans were originated by a Wells Fargo employee who has been identified by a federal regulatory agency as having received a benefit from Genuine Title because of the agreement to refer borrowers to Genuine Title (referred to as “Specified Loan Officers”).
Subclass 2: Includes Class Members whose Wells Fargo mortgage loans were not originated by one of the Specified Loan Officers, but whose loans were closed with Genuine Title during the Class Period.
Potential Award
Varies.
Members of Subclass 1 are entitled to a payment equal to 120 percent of the amounts reflected as paid to Genuine Title on the HUD-1 Settlement Statement for their Wells Fargo mortgage loan.
Members of Subclass 2 who submit timely and valid Claim Forms are entitled to receive an amount equal to 50 percent of the amounts as paid to Genuine Title on the HUD-1 Settlement Statement for their Wells Fargo mortgage loan.
Proof of Purchase
Members of Subclass 1 will automatically receive benefits if this Wells Fargo settlement is approved, and do not need to submit a Claim Form.
Members of Subclass 2 must complete and mail a Claim Form to the Settlement Administrator no later than May 31, 2016.
FAQs
Claim Form Deadline
05/31/2016
NOTE: Members of Subclass 1 do not need to submit a Claim Form in order to receive benefits from this class action settlement. Members of Subclass 2 must file a Claim Form by the May 31, 2016 deadline. If you are a Member of Subclass 2 and you do not have a Claim Form, you can request one from the Settlement Administrator.
Case Name
Edward Fangman v. Genuine Title LLC, Case No. 1:14-cv-00081-RDB, in the U.S. District Court for the District of Maryland, Northern Division
Final Hearing
11/04/2016
Settlement Website
www.GenuineTitleWFSettlement.com
Claims Administrator
Settlement Administrator
P.O. Box 2486
Faribault, MN 55021-9186
1-877-526-1014
Class Counsel
Michael Paul Smith
Sarah Zadrozny
SMITH GILDEA & SCHMIDT LLC
Timothy F. Maloney
Veronica B. Nannis
JOSEPH GREENWALD & LAAKE PA
Defense Counsel
Virginia W. Barnhart
Russell J. Pope
TREANOR POPE & HUGHES PA
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13 thoughts onGenuine Title, Wells Fargo Mortgage Loan Class Action Settlement
We had a wells fargo loan in that period.
I had a mortgage with Wells Fargo how do I know if I qualify
I have a Wells Fargo Mortgage that closed in the specified period of time. How do I know if I qualify for this class action?
I also have wellfargo how do we find out if we qualify?
I+had+a+home+mortgage+with+Wells+Fargo+at+the+time+specified.++I+received+a+letter+stated+that+they+were+forgiving+me+the+loan+without+explanation+and+they+gave+me+an+unfavorable+credit+report.+I+have+read+the+sub+classes+and+I’m+not+sure+if+I+would+qualify.+Please+help.
I had a Wells Fargo home mortgage at that time . I’m not sure who did the closing I bought the house in 1999 still have the house but switched to a new bank about 7 year’s ago. How do I find out if I qualify for a settlement?
We had a Wells Fargo loan during that time frame and don’t know if we qualify or not and for which subclass. Please help.
My loan for my home is Wells Fargo, I do not know know if it is subclass 1 0r 2 nor do I know who closed the loan, I still have a wells fargo mortgage loan.
I currently have a HUD based mortgage with Well Fargo
How would you know if you’re in Subclass 1 or Subclass 2? I got a mortgage thru Wells Fargo in that time period & it was a HUD loan. How would I know if I qualify?