Class Definition Tightened In Wells Fargo Loan Deception Suit

Law360, New York (October 10, 2012, 6:03 PM EDT) -- A California federal judge on Tuesday narrowed the definition of a putative class of borrowers accusing Wells Fargo Bank NA of deceptively promising to modify problem mortgages before foreclosing on properties, after the class conceded it would seek the tighter definition.

In a move he called “rarely appropriate,” U.S. Magistrate Judge Joseph Spero agreed to strike parts of the class definition that said the class was made up of homeowners who received an “illusory modification” on their loan as per a written agreement.

Under the stricter...
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