Case Overview
In re: Wells Fargo Covid Forbearance Settlement Litigation, United States District Court for the Southern District of Ohio, Case No. 2:24-cv-01206
In the earliest days of the COVID-19 pandemic, when many customers were expressing concern about financial hardship and their ability to make their next mortgage payment, Wells Fargo decided to provide mortgage forbearances to some customers without their explicit consent or knowledge of the forbearance. This prevented many borrowers from being able to make payments on their federally backed mortgage loans. With their mortgages in forbearance and non-payments noted on their credit reports, borrowers were unable to take advantage of the low interest rates that have arisen from the pandemic.
In August of 2020, Keller Rohrback filed a class action lawsuit on behalf of the customers whose mortgages were unilaterally placed in forbearance. After four years of litigation on April 16, 2024, the parties agreed to a $185 million settlement. On December 19, 2024, the Honorable Michael H. Watson granted final approval of this class action settlement, which successfully resolves the claims of approximately 300,000 consumers. The deadline to submit claims to the settlement administrator was January 10, 2025, and automatic payments to class members began in March 2025.
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