Wells Fargo FHA Home Loan Interest Class Action Settlement

If you had a Federal Housing Authority (FHA) loan with Wells Fargo between June 1, 1996 and Jan. 20, 2015, you may be able to take part in a $30 million class action settlement.

The plaintiffs in the Wells Fargo FHA home loan interest class action lawsuit alleged that the bank had improperly charged them and others interest on their FHA insured mortgages.

Specifically, the class action lawsuit alleged that Wells Fargo failed to provide proper notice to mortgage holders regarding the collection of post-payment interest on their FHA loans.

The plaintiffs alleged that, in the event of a refinance, they and other FHA loan holders were effectively charged twice as a result — once by Wells Fargo and again by the new lender.

Over 1 million mortgage holders who had FHA backed loans with Wells Fargo over the course of nearly two decades may qualify for the Wells Fargo FHA home loan interest class action settlement.

The class action settlement received preliminary approval from a federal judge in August 2018.

Wells Fargo does not admit any liability or wrongdoing under the terms of the Wells Fargo FHA home loan interest class action settlement.

The deadline for Class Members to object to or exclude themselves from the settlement is Nov. 20, 2018.

Who’s Eligible

Class Members include “all persons nationwide who had an FHA-Insured Loan that was originated beginning June 1, 1996 and ending January 20, 2015, where (i) Wells Fargo, its agent, or its predecessor was the mortgagee as of the date the total amount due on the FHA-Insured Loan was brought to zero, (ii) Wells Fargo collected Post-Payment Interest on the FHA-insured Loan during the applicable Limitations Period, and (iii) the borrower made a prepayment inquiry, request for payoff figures, or tender of prepayment but did not receive a Payoff Statement containing the verbatim Post-Payment Interest disclosure language [as required under federal housing regulations].”

Potential Award

$19.50 (estimated)

Proof of Purchase

None

FAQs

FREQUENTLY ASKED QUESTIONS »

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Exclusion Deadline

11/20/2018

Case Name

Fowler v. Wells Fargo Bank NA, Case No. 4:17-cv-02092, in the U.S. District Court for the Northern District of California

Final Hearing

12/20/2018

Settlement Website

www.FHASettlement.com

Claims Administrator

Fowler, et al v. Wells Fargo Bank NA
c/o GCG
PO Box 10644
Dublin, OH 43017-9244

Class Counsel

Adam L. Hoipkemier – adam@ehdlaw.com
Kevin Epps – kevin@ehdlaw.com
EPPS HOLLOWAY DELOACH & HOIPKEMIER LLP

Michael F. Ram – mram@robinskaplan.com
Susan S. Brown – sbrown@robinskaplan.com
ROBINS KAPLAN LLP

Defense Counsel

K. Issac deVyver
Karla L. Johnson
MCGUIREWOODS LLP