Wells Fargo Escapes Suit Over Mortgage Modifications

Law360, New York (August 9, 2011, 4:14 PM EDT) -- A New Jersey federal judge on Monday tossed a putative class action accusing Wells Fargo Bank NA of breaching contractual agreements by misrepresenting the terms of its loan and mortgage modification programs and unlawfully foreclosing on homeowners’ property.

In granting Wells Fargo’s motion to dismiss the suit, U.S. District Judge William J. Martini ruled that plaintiffs Danny Stolba and Lois Roth had failed to prove that they had reasonably relied on the conditional terms in the disputed trial period plan agreements or that the bank had...
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