Wells Fargo Inspection Fee Settlement
www.WellsFargoPropertyInspectionSettlement.com



Overview of The Settlement

Young v. Wells Fargo & Co., Case No. 4:08-CV-507 RP-CFB

SETTLEMENT UPDATE: FEBRUARY 21, 2017

Settlement Hearing

Following the Settlement Fairness Hearing held on January 21, 2016, the District Court approved the Settlement, however multiple appeals were filed. The Eighth Circuit has now rendered decisions with respect to all of the pending appeals and has affirmed the decision of the District Court in all respects. However, the Settlement will not be finally approved unless and until the Eighth Circuit’s decisions become final and can no longer be appealed.

The lawsuit claims that Wells Fargo improperly ordered a property inspection whenever a borrower fell behind on mortgage payments by forty-five days or more, and then ordered subsequent inspections every twenty-five to thirty-five days for as long as the borrower remained delinquent. This proposed Settlement settles certain claims on behalf of all Persons who have or had a mortgage serviced by Wells Fargo and owe or paid a property inspection fee assessed during the period August 1, 2004 through December 31, 2013, inclusive.

What Are My Options?

  • REMAIN A MEMBER OF THE CLASS. Some people will automatically receive a cash award. Others must have submitted a claim with supporting documentation, postmarked by March 16, 2016. These categories are further described in the Notice. If you stay in the Class, you give up the right to sue Wells Fargo separately and will be bound by the Settlement Terms.
  • EXCLUDE YOURSELF FROM THE CLASS. The deadline to exclude yourself from the Settlement was December 22, 2015.
  • OBJECT TO THE SETTLEMENT. The deadline to object to the Settlement was December 22, 2015.

Please consult the Notice for more details on your options.

Settlement Hearing

Following the Settlement Fairness Hearing held on January 21, 2016, the District Court approved the Settlement, however multiple appeals have been filed. To date, the Eighth Circuit has decided some, but not all, of the appeals.