Wells Fargo Improperly Collected TPP Payments and Denied Loan Modifications

Residential mortgage borrowers sued Wells Fargo Bank, N.A. d/b/a America’s Servicing Company. The lawsuit concerns the Trial Payment Plan (TPP) offered by Wells Fargo through the Home Affordable Modification Program (HAMP).

The customers claim that Wells Fargo and America’s Servicing Co. improperly collected TPP payments from borrowers and improperly denied permanent loan modifications to borrowers. The lawsuits seek money or benefits, including the return of TPP payments to borrowers.

Class Certification

The trial court certified claims that Wells Fargo and America’s Servicing Co. use of the HAMP TPP are unlawful and deceptive debt collection and business practices and are fraudulent and unfair business practices. To read the court’s order granting class certification of the unfair debt collection practices claim click here. To read the court’s order granting class certification of the fraudulent business practices claim click here.

The class includes California residential mortgage borrowers who entered into a TPP plan on or before March 1, 2010, made the TPP payments, but did not get a permanent HAMP loan modification.

The court did not certify the claim for breach of contract. If you believe you have a contract claim regarding your TPP plan, you may wish to seek legal advice regarding a contract claim, including advice about when the statute of limitations expires under the circumstances.

If You Are A Class Member . . .

If you are a class member, your unlawful and deceptive debt collection and business practice claims will be resolved at the trial unless you opt out of the class. If you want to opt out of this lawsuit, you must do so by August 29, 2016.

The class notice has details on class certification and how to opt out. Click here for the class notice.

Trial is scheduled to begin in on June 5, 2017.

If you have any questions about the class action, the trial or your options, call us at 619.338.1100 or email us by clicking Contact Us.