Wells Fargo Sued for Not Disclosing Fees During Loan Origination
4 Articles
4 Articles
Putative Class Action Lawsuit Filed Against loanDepot Alleging Loan Originator Compensation Rule Violations
Recently, a complaint was filed against loanDepot.Com, LLC (“loanDepot”) in the U.S. District Court for the District of Maryland alleging violations of the Truth in Lending Act (TILA)/Regulation Z loan originator compensation rule (Rule), which applies to closed-end consumer credit transactions secured by a dwelling. The complaint alleges that loanDepot “unlawfully steered Plaintiffs and those similarly situated to loans with higher rates and fe…
Wells Fargo accused of charging undisclosed float fees to mortgage borrowers
A new lawsuit filed in California accuses Wells Fargo of concealing that it improperly charged undisclosed float fees to mortgage borrowers during loan origination. Filed by borrower Lance Baird, the issue came to light in 2022 when Wells Fargo sent out vague notices to customers, admitting it had mistakenly charged float fees during the mortgage origination process. The bank apologized and enclosed cashier’s checks with the letters. In Baird’s …
Wells Fargo Sued Over Flippant Mortgage Fee Refunds - USA Herald
A proposed class action lawsuit has been filed against Wells Fargo by mortgage borrower Lance Baird, accusing the bank of making a “flippant” and inadequate effort to address alleged mortgage origination fee errors affecting thousands of consumers. According to the complaint filed Tuesday in the U.S. District Court for the Northern District of California, Wells Fargo has been sending “cryptic” letters since December 2022 informing mortgage borro…
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