Wells Fargo Foreclosure Settlement OK'd On 3rd Try

Law360, New York (April 19, 2013, 2:25 PM EDT) -- A California federal judge on Thursday gave preliminary approval — after twice rejecting the deal — to a settlement between Wells Fargo Bank NA and a class of homeowners who claim they were misled into making payments on homes headed into foreclosure, accepting the exclusion of foreclosure losses from the agreement.

U.S. Magistrate Judge Joseph Spero signed off on the $500,000 deal — designed to end claims that Wells Fargo had tricked delinquent mortgage holders into making payments on properties that were headed into foreclosure regardless...
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