Preliminary Approval Of $22M Add-On In Wells Fargo Foreclosure Suit Granted

Mealey's (July 27, 2021, 1:22 PM EDT) -- SAN FRANCISCO — A federal judge in California on July 26 granted preliminary approval of a nearly $22 million supplemental class action settlement for a nationwide class of borrowers who allege that they were denied loan modifications under the Home Affordable Modification Program (HAMP) by Wells Fargo Bank NA as a result of an algorithmic error in its software but were not part of an original list of borrowers provided by Wells Fargo as part of an $18.5 million settlement reached in 2020....