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A class of angry homeowners have filed a class action lawsuit against Wells Fargo claiming the banking giant illegally refused to grant permanent loan modifications it promised to give homeowners who successfully completed a trial mortgage modification under the Homeowner Affordable Modification Program (HAMP).
According to the Wells Fargo mortgage modification class action lawsuit, Wells Fargo committed breaches of contract and violated California consumer protection laws by misrepresenting the terms of the HAMP trial periods plans (TPP), designed to be a path toward a permanent mortgage modification.
The homeowners say they agreed to a reduced mortgage payment amount with Wells Fargo, subject to a three-month trial period to allow borrowers to prove their ability to meet the new obligation. Wells Fargo sent the borrowers letters explaining that if they “make those payments successfully and fulfill all the trial period conditions, we will permanently modify your mortgage loan.”
According to the class action lawsuit, however, this never happened — it was a ruse designed to induce consumers into sending payments to Wells Fargo, even when Wells Fargo knew that it had no intention of granting the permanent loan modification it promised.
“We believe Wells Fargo used the false promise of permanent modifications to extract millions of dollars in payments from its customers,” said one of the attorneys representing the homeowners. “We will prove in court that Wells Fargo’s operations turned a program designed to help homeowners into a revenue stream for the bank.”
The Wells Fargo HAMP class action lawsuit is seeking restitution of the payments homeowners made as part of the agreement, as well as to recover all other funds or property lost because of Wells Fargo’s alleged illegal activities.
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237 thoughts onWells Fargo Mortgage Modification Class Action Lawsuit
Wells Fargo/ASC never did an assignment on my property so the lawyers for W/F made an assignment from the last Bank on the mortgage which was Bank One which had merge with Chase. And filed the foreclosure using JPMorgan Chase. Chase says they didn’t hire the firm to file the F/C. But says they did the assignment but they never had a loan because it was paid out before they merged. Wells Fargo would always send back the last payment and say i didn’t qulifty for Loan mod. Added fees and inspection fees making it hard to keep up. Wells Fargo is using Deutsche Bank and i got an email from Deutsche Bk saying they are not responsible they only manage the trust and Wells Fargo owns and service the loan.I live in Louisiana and looking for others that was paying W/F and Deutsche Bank name was being used.
Also got double crossed by Wells Faro and can you explain what an assignment on your property means?
I would like to be involved in this class action suit. I too was strung along for months. Made half payments for 9 months and never received any modification. Wachovia and Walls Fargo a crooks and someone should go to jail.
I had a home in Bell, CA I saw the ugly side of the City and of a Bank that I trust not help but play games. All the stories are the same…I too will add my name.
Please include me in any and all class actions against Wells Fargo Home Mortgage except for ovetime wages paid to employees. I have extensive documentation and can provide substance for counsel for plaintiffs.
DJEverette
I have asked the DOJ, FREDDIE MAC, CONSUMER PROTECTION, MERS, HAWAII A.G., AND 7 other Government Departments for assistance with getting Wells Fargo Mortgage to get honest with us and just came from another lawyers office to hopefully start another legal push and all of what I have gotten is the suggestion of working it out with Wells Fargo Mortgage!! Wells Fargo Mortgage is the problem…not the solution and everyone knows it!! I refinanced my mortgage to get away from Wells Fargo Mortgage because they had forced insured our house when It was already insured and I wasn’t notified they had done it until after they did it with a firm I didn’t know was even approved by the Insurance Commissioner to do business here and what the coverage was nor did I get a copy of the policy or any other disclosures you get when you pay the premium.
In the refinance I inserted an attachment to escrow that I didn’t want Wells Fargo Mortgage Bank…Mortgage or their assigns to be the servicer of the bank. I didn’t want them because of their illegal fraudulent practices and they were assigned the servicing anyway shortly before they took a major participation in the sub-prime, mortgage backed securities fiasco which sunk the economies of not only the u.s. and also other countries.
We qualified for the refinance and were amortizing it better than agreed until the fiasco hit us and it defeated the income qualifications we needed to be approved for the loan and then defeated the value of the home itself and then Wells Fargo came after the house when we went late. The HAMP process is and was the very same that everyone here is screaming about.
Even after the USDOJ rules against these banks and fines them billions of dollars with more coming from other legal entities the harmed consumer gets nothing and the fraudulent bankers get no jail time or loss of job and wages. How does the AG in my state get all of that penalty money and still get to tell me to contact Wells Fargo Mortgage?
WOW!! When does the consumer/mortgagor get their money, home, peace of mind and trust back?
Wells Fargo Mortgage defeated the terms of my mortgage which I agreed to abide by in entering the illegal asinine “Sub-Prime asset backed securities” program and are allowed to keep what they stole and cheated innocent citizens of and the ability and facility to continue doing it? Where the hell is the Lone Ranger? I want my note and deed of trust back…away from Wells Fargo Mortgage and their assigns and employees and staff and supervisors and chair persons and directors and board of directors and even their maintenance staff.
I want in on this law suit as well, been through this twice with them, my payment is still outrageous, and my interest rate remains the same!!
please include me in the wells fargo lawsuit i have conflicting documents to back up theirfradulent abuses
I forgot to mention that during my drama with Wells Fargo, they sent me a letter telling me that I had to (in short) sign the form that they sent to me with this letter, rescending my protective rights as a consumer or they would continue the foreclosure. I did not sign the paper. I still have that letter. I continued to fight them for 2 more years trying to get the HAMP program. I went through the 3 months of forebearance payments, the trial payments on HAMP twice, even though I still have the letter saying that I did it and that I was in the HAMP program. They still foreclosed on my home. When I had my settlement conference, they would not answer my questions and they refused to acknowledge my lawyer, who was sitting right there with me. When I found out that I actually owned my home, after they had taken it away through the county court, I could not believe how they got by with this. It makes me so mad at them and how they abused me and stold the home that I had worked all of my life for.
Please include me in the lawsuit against Wells Fargo. I am going through the same thing.
Yes that is exactly what they have done to us. One modification that was granted 3 years ago was to drop the payment and Wells Fargo added the monies to my principal with any notification. I got on Facebook and posted all the letters written to their CEO never getting any answer and they continued to proceed to foreclosure. I met the demands and so far Brittany Marentes-Gonzalez at 1-855-803-5719 ex 39293 continues to give excuses on why the original binding contract has not been sent. How do you get in the lawsuit against Wells Fargo Home Mortgaqge?
I have just read all of the above responses and comments about Wells Fargo. It makes me sick. I went through fighting them from 2008 through part of 2011. They foreclosed and stold my home. I found out after I had been forced out of my house that I actually owned my property. It was paid off by my mortgage insurance in 2005 when I had financial difficulty. Wells Fargo wrote to me that they had paid off my mortgage and that I was to pay them. This was not true, but I did not know that. I paid them for over three years and then went through all of the HAMP jargon that most of you have been through. I even received more HAMP papers from Wells Fargo the day that the sherriff served me my eviction papers!! I would love to get into a class action lawsuit for this or whatever I could. I ran out of money fightining them. I ended up broke and on public assistance.