9th Circ. Revives Claims Over Wells Fargo Loan Modifications

Law360, New York (August 8, 2013, 7:49 PM EDT) -- Homeowners accusing Wells Fargo Bank NA of failing to offer them a permanent mortgage modification successfully persuaded the Ninth Circuit on Thursday to revive their consolidated class actions against the banking giant.

A three-judge panel reversed a lower court’s dismissal of the case, finding that Wells Fargo has the obligation to offer homeowners a permanent mortgage modification as long as they have satisfied the requirements of a so-called trial period plan.

Borrowers who are eligible to participate in the Home Affordable Modification Program of 2009 can...
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