Wells Fargo Mortgage Rate Lock Fees Class Action Lawsuit Investigation
Investigating a potential class action lawsuit against Wells Fargo for inappropriately charging fees to lock mortgage rates. Mortgage rates are locked in for a predetermined number of days between a lender and borrower while the paperwork is being processed. If the loan is not processed within the preapproved time, a fee can be charged depending on the party at fault. If the borrower creates delays, he is assessed a fee. If the lender creates delays, the fee is to be absorbed by the institution. It is alleged that Wells Fargo purposely created internal delays and charged borrowers the fee despite the borrowers not causing the delay. If you have a Wells Fargo mortgage and believe you were wrongly charged a lock in fee, please contact us.
Investigating a potential class action lawsuit against Wells Fargo for inappropriately charging fees to lock mortgage rates. Mortgage rates are locked in for a predetermined number of days between a lender and borrower while the paperwork is being processed. If the loan is not processed within the preapproved time, a fee can be charged depending on the party at fault. If the borrower creates delays, he is assessed a fee. If the lender creates delays, the fee is to be absorbed by the institution. It is alleged that Wells Fargo purposely created internal delays and charged borrowers the fee despite the borrowers not causing the delay. If you have a Wells Fargo mortgage and believe you were wrongly charged a lock in fee, please contact us.
